Your primary residence won’t be taxed, but a 2nd residential property would have a 200% tax rate, 3rd a 300%, 4th an 400% and so on. This would incentivize large investment firms and other investors from holding many residential properties.
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YESS!!! I love the premise!
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It has 7 thumbs down… so we have a bunch of Blackrock bots responding 
or neofeudalists perhaps
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No, I think that corporations should be prohibited from owning single family homes though. Taxes are a communist/socialist idea.
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So an average citizens can not improve them selves and their family future by investing intelligently. We are Military family, we bought a place every time we PCS’ed and rented it out when assigned to a new duty station. We lived hand to mouth, pay check to pay check, not buying toys (new trucks, boats, motorcycles, Crickets) that our peers bought. Shopped at goodwill and hunted and grew most of our own food to leave a property for our kids… so we should be taxed 200-400% on our sacrifices ?
This is a very Commie concept and not the American dream.
If you want to put higher rates on Large Corps and foreign investors go for it .(but still giving Government oversize they don’t deserve) But please leave the hard working American citizen out of the restrictions.
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Property taxes is equivalent to paying the King for permission to live on "his land. " if I own the house and the land, and pay for all the maintenance and upkeep, why am I paying rent?
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This is a horrible proposal and more thought needs to go into it. Like Kit who responded in the comments, we are a military family and have a similar experience as she describes. If a family/individual can afford a second home (for vacation or seasonal purposes) that is their right and they should have every right to buy it and enjoy it without being taxed into oblivion. If someone wants to buy a home as a rental property to bring in a little extra income, they should jump at the opportunity without being detered from insane, anti-American proposals like this.
I would agree that private equity firms (i.e. Black Rock) should absolutely be banned from purchasing residential real estate. Since at least the last 5 years, these companies have purchased a significant quantity of residential properties (Report: 44% of all Single-Family Home Purchases were from Private Investors in 2023 | by HR NEWS | Medium) They have locked out many first time home buyers from being able to realize the American Dream.
Ban private equity firms from buying residential property. Don’t tax Americans who own a 2nd or 3rd home just because you are jealous of their success.
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Taxes are a much older concept than socialism or communism. “ According to the Bible, the first tax mentioned is the “half-shekel” tax, also known as the “atonement money” or “ransom money,” which was commanded by God in Exodus 30:11-16. This tax was levied on every Jew from 20 years old and upward, and was used to support the worship and maintenance of the tabernacle”
A husband and wife could each own a property and pay zero property tax. They could each own 2 properties and basically pay the same taxes as they do now, like 100% on each. They can buy all the multiplexes, commercial property, and farmland that they want. BUT once the 3rd residential property is purchased the greed tax (like the cheese tax song) applies. This opens up the American dream for many people, because the affordable properties aren’t being gobbled up by people using equity so buy single house dwellings.
How do you define greed? How do you define the american dream?
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I agree with you. Implementing a Universal Basic Income (UBI) of $10,000/month would significantly impact various aspects of society. Taxing/punishing others for what another can’t do is very communist behavior.
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One doesn’t fix corporate greed and over-reach by suggesting that other people pay more taxes to the government.
I think the entire idea is unAmerican and you can find a better way of removing corporate institutions from public competition of resources than suggesting harsher property taxes. We need to GET RID OF PROPERTY TAXES – not enshrine them as a tool for the current sleazy money-grubbing county governments to protect us from Blackrock.
Bad policy suggestion, I think. No offense, just stating my rejection of legitimizing property taxes, for whatever reason. If I want a second home, I really dont want to pay twice as much in something that I really dont want to exist in the first place (on ANY home that I own).
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I posted similarly before I saw your post. It is complete alignment/and agreement that this proposal is bad policy and completely unAmerican.
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How ironic that manditory taxation in world history can be tied straight back to “this area” of the world! The more things change, the more they stay the same. Who woulda thunk?!!!
Would this policy apply to people who own rental property?
I kow of a few seniors citizens who rely on rental property income for their basic living needs. The rental property income pays about $500 per month for each property. They are still paying on the mortgage, property taxes, city and county taxes for water, sewer and other fees.
Doubling and tripling the property taxes would force rent to increase accordingly or force them to sell the property to some heartless entity only concerned with making profit.
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Greed, noun [Latin ignominia; in and nomen, against name or reputation.]
- Public disgrace; shame; reproach; dishonor; infamy.
Note: This definition is unrelated to the modern concept of greed as an excessive desire for wealth or material possessions.
American Dream = Life, Liberty, and the Pursuit of Property.
The proposal would increase liberty, because people would own their primary residence (not rent the land from the government)
The proposal would expand the pursuit of property for many Americans without the inflated property prices due to investors.
Therefore improving the lives of many Americans.
I’m no economist, but I would imagine that private equity property investment would level out surges of available properties on the market, thereby keeping the value of neighboring properties from crashing due to vacant adjacent housing or something of the like.
Pursuit of happiness is a fools errand.
There would obviously need to be an exemption for builders or investors in the building of homes, because we wouldn’t want to disincentives that.
How do you define “excessive desire”? And why do you believe “Pursuit of happiness is a fools errand.”? Also this statement doesnt make sense to me: “The proposal would increase liberty, because people would own their primary residence (not rent the land from the government)” … stealing from people increases liberty? And renting land that is owned is still somehow okay? Taxation is theft, no matter how you spin it.
Additionally, this would only apply to people who buy their houses in their own name. No one should be doing that. It shouldnt even be an option.
It wouldn’t have to be retroactive. Therefore preventing a flood of properties and crashing the market.
Property tax currently is supposed to fund education. If that would be abolished, what would you propose to fund education?
I’m glad you brought that scheme up, actually, because it proves just how stupid property taxes is in another way. Poorer neighborhoods dont deserve the same quality education as wealthier neighborhoods? Hmm. The education system hasnt exactly proven its’ value the past few generations.
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