Massive tax hikes please, for houses owned by people who don’t live there. Landlordism is out of control.
Land value tax doesnt feel like a fair solution. The value of your land is what you sell it for, not what a realtor guesses it is worth.
If you “buy a house in San Francisco before the tech boom” and never sell it, you shouldn’t have to pay some extra sour-grapes tax because everyone else is jealous of the perceived value of your land. How do they know you don’t have dry rot / radon / ghosts? Do you have to allow home inspections to “value” your property?
Conversely, if you cash out at 20x the value you paid then we already have a tax for that: Capital Gains.
All bets are off if you own land that isn’t the place where you live. If you own more than one home, neither is your permanent home, so enjoy being taxed on both.
Land value tax doesnt feel like a fair solution. The value of your land is what you sell it for, not what a realtor guesses it is worth.
If you “buy a house in San Francisco before the tech boom” and never sell it, you shouldn’t have to pay some extra sour-grapes tax because everyone else is jealous of the perceived value of your land. How do they know you don’t have dry rot / radon / ghosts? Do you have to allow home inspections to “value” your property?
Conversely, if you cash out at 20x the value you paid then we already have a tax for that: Capital Gains.
All bets are off if you own land that isn’t the place where you live. If you own more than one home, neither is your permanent home, so enjoy being taxed on both.