• Novman@feddit.it
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    8 months ago

    I have seen the amount paid in property taxes in USA via Zillow and… It is HUGE. No surpries that rents are so high. Rent have to cover minimum taxes, maintenance and part of house value. These expenses set the minimum value of a rent. But why you have so high property taxes? Cause enterprieses and billionaires don’t pay taxes and cause they put their huge capitals also in real estate, raising the prices. The problem is that real estate is a right ( house ), but also an asset.

    • Leeks@kbin.social
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      8 months ago

      Many states have tax cuts for living in the property you own. The high tax rate is the state saying “if you make money, we want to make money”.

      • Novman@feddit.it
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        8 months ago

        The problems is that if you live in an house you rent, you have to pay indirectly full property tax. Cause you aren’t living in a property you own.

    • FiveMacs@lemmy.ca
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      8 months ago

      People called me crazy when I didn’t like the fact that they wanted free public transit and for all the bus costs to be put into people’s property taxes. My only argument was those that actually need free bus fare, will be unable to continue affording their places they rent because property tax will go up. They will end up paying the same, if not more in the long run…all for free transit. People couldn’t grasp it and resorted to verbally attacking me. Lol I still laugh.

    • ThrowawayPermanente@sh.itjust.works
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      8 months ago

      Taxes do not set the minimum price of rent, supply and demand do that. A real estate investment can still make money even if rental income is less that taxes and maintenance because land appreciates in value over time. This is why the rich invest in it, and why we should tax them where they can’t evade it.