Why grace to send homeowners? Tax those people, nobody needs to own a second house and pay some form of reduced taxes.
Tax it at the same rate money on the bank is taxed (if not already) and if it is rented out, tax that rent income as well.
In this fantasy, market rate for comparable houses, so that’s usually based on sqft, rooms and location.
If you’re thinking apartments in a complex I would say each apartment is a unit and taxed fair market value. I wasn’t thinking about taxing spare rooms, just to avoid taxes on middle class. All of my hair brained ideas target the wealthy.
Let’s consider a tax on vacant homes. If landlords got charged market rent for vacancies the house prices would plummet.
Grace to second homeowners or set-length renovations.
Why grace to send homeowners? Tax those people, nobody needs to own a second house and pay some form of reduced taxes. Tax it at the same rate money on the bank is taxed (if not already) and if it is rented out, tax that rent income as well.
How is taxing 3% of inventory going to make prices “plummet”?
Sorry, I never mentioned USA. https://usafacts.org/articles/how-many-vacant-homes-are-there-in-the-us/ Its about 10%.
would the tax be based on the number of livable units in the home?
In this fantasy, market rate for comparable houses, so that’s usually based on sqft, rooms and location. If you’re thinking apartments in a complex I would say each apartment is a unit and taxed fair market value. I wasn’t thinking about taxing spare rooms, just to avoid taxes on middle class. All of my hair brained ideas target the wealthy.