And move where? Why have retired people (who are most likely on a fixed income and have paid off their home in some cases) to move from a home they’ve paid off to an apartment/living center with obscene monthly payments? Or introduce another ever rising tax on something they should have been able to age peacefully in without as much financial worry? That seems cruel. I’m no fan of boomers, but damn.
I feel like best plan here would be to impose steeper taxes on second-plus properties. You can have your primary residence, but every home after that accrues a higher and higher tax. Especially on LLCs.
I feel like best plan here would be to impose steeper taxes on second-plus properties
I think we have that where I live, although after 20+ years of owning I still don’t really understand property taxes here.
Anyhow, the property tax has a basic definition but I believe you get a reduction in assessed value for primary residence. That effectively taxes second homes more
There won’t be any other taxes for them to pay, so they will have more purchasing power. Chances are, they’re still going to have the same place unless that retired guy decides to build a hotel or something on it.
![[meme] How would you rather see this land developed?](https://lemmy.world/pictrs/image/f6ec67a5-2636-4875-8dd4-fa5241a3083c.jpeg){kind=link}
Seems like a good way to get a lot of retired folk to lose their property over taxes, as land value rises above their means
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And move where? Why have retired people (who are most likely on a fixed income and have paid off their home in some cases) to move from a home they’ve paid off to an apartment/living center with obscene monthly payments? Or introduce another ever rising tax on something they should have been able to age peacefully in without as much financial worry? That seems cruel. I’m no fan of boomers, but damn.
I feel like best plan here would be to impose steeper taxes on second-plus properties. You can have your primary residence, but every home after that accrues a higher and higher tax. Especially on LLCs.
Removed by mod
I think we have that where I live, although after 20+ years of owning I still don’t really understand property taxes here.
Anyhow, the property tax has a basic definition but I believe you get a reduction in assessed value for primary residence. That effectively taxes second homes more
There won’t be any other taxes for them to pay, so they will have more purchasing power. Chances are, they’re still going to have the same place unless that retired guy decides to build a hotel or something on it.