If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
So, guy buys a 300 million dollar house, pays a million dollars a year in property tax, if he buys a second house for a friend for 60k, he now pays 2 million a year in property tax, basically making that 60k home cost a million dollars? And if he wants to buy a building for his business, that business basically costs him an extra million in property tax?
Well, usually commercial buildings are separate from residential.
But yes, I see the problem with the first example.