Texas is that way to a point. Your primary residence gets enormous tax breaks. Any property after that, fuck you, pay up. The downside to that is that it contributes to the high cost of rent as the owner passes it along to the tenant.
Does it increase per property owned though? They can’t keep passing on the tax increase to the tenant if at a certain point they own 1000 houses and now their tax on the last one is 7 times higher than the rent on it.
That’s what we should be doing any house after your second gets increased a ton per house. Make it untenable for people to own rental properties. I don’t mind someone having a vacation house or two if they can afford it. But nobody needs 10 vacation houses, they’re rental or investment properties at that point so fuck them.
Texas is that way to a point. Your primary residence gets enormous tax breaks. Any property after that, fuck you, pay up. The downside to that is that it contributes to the high cost of rent as the owner passes it along to the tenant.
Does it increase per property owned though? They can’t keep passing on the tax increase to the tenant if at a certain point they own 1000 houses and now their tax on the last one is 7 times higher than the rent on it.
That’s what we should be doing any house after your second gets increased a ton per house. Make it untenable for people to own rental properties. I don’t mind someone having a vacation house or two if they can afford it. But nobody needs 10 vacation houses, they’re rental or investment properties at that point so fuck them.