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by olliej
784 days ago
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There’s so much wrong with this. The people paying the property taxes are the tenants. Except they’re paying market rate for the property while the owner pays far below that actual rate. In other words the artificially lowered tax rate is just a profit center for the owner. Second, the owner does benefit from those property taxes: the property taxes fund a bunch of the infrastructure that makes their property have value, that makes tenants interested, covers police and fire, etc Except because the land owners in these cases aren’t paying their fair share, so in addition to profiting off tenants that are paying market rate for the property owners are being subsidized by the increased base rate others have to pay. People do not have direct control over the market value of their property so it is trivial to have a world where people’s property taxes could increase beyond what they could afford at all, while simultaneously pricing them out moving (to “realize” the “value” of their home), but if you’re renting a property out at the market rate then you should be paying taxes at the market rate. |
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If your property taxes are too expensive for you, you should move.