Hey everyone, I came across this really interesting idea about how to fix the housing problem in our cities. It’s all about changing how we tax empty buildings.
The person who suggested it believes that higher taxes on long-vacant properties could discourage big companies from hoarding them for speculation. Instead, offering tax breaks to those who actually live in their homes might make owning a house more feasible for the average person.
What are your thoughts on this approach?
sounds good on paper, but i worry about unintended consequences. what if it hurts small landlords or forces ppl to rent at a loss? maybe combine it w/ incentives for affordable housing development? Devil’s in the details w/ tax policies. need to see specifics before judging
This proposal has merit, but implementation could be tricky. Defining ‘long-vacant’ is crucial - we’d need clear criteria to avoid penalizing legitimate vacancies. While it might deter some speculation, determined investors could find loopholes. Tax breaks for owner-occupiers sound promising, but the impact on overall affordability might be limited. We’d need to carefully model the effects across different markets. Perhaps coupling this with zoning reforms and targeted subsidies for affordable housing construction could yield better results. Ultimately, addressing housing affordability requires a multi-pronged approach beyond just tax policy.
Interesting idea! But how would they define ‘empty’ buildings? Some properties might be vacant for renovations or between tenants. Could this penalize owners unfairly? And would the tax breaks really make a dent in housing costs for most folks? Curious to hear more details!