Your first proposal was for zero tax on the primary residence. Therefore no funds for education.
How would we fund schools if everyone had the means to buy a home? Fewer people would be paying property taxes.
I vote no. I invest in real estate to create passive income.
1 Like
Same way the government fund everything else. By printing money.
I will add my perspective based on the corrupt acts and loopholes that have been allowed to happen. I believe this proposal is targeting the wrong group and not focusing on what the causes were to begin with related to this discussion. The main culprits behind buying up large amounts of property over time are big private equity firms. Also we have allowed foreign investment to come in an purchase property in locations that are national security risks when most other countries ban foreign purchase to own of property. To penalize the everyday working man and women who saved over the long term to buy and possibly get that vacation home too, it is ridiculous to tax them. These property taxes are illegal anyway and we never had them in the beginning and should not now. Don’t fall for taxation. It’s a trap. We will be going to sales tax system only very soon.
1 Like
Good point…I suggest we create a “Renter’s Tax” to replace the lost “Property Tax”. Then the other side can see what it is like to have to completely fund schools out of their own annual income, while I sit on an online forum and argue FOR the 'Renter’s Tax", justifying my arguement with, that it pays for schools, roads, and bridges. How does that work? 
The hypocricy would be as deafening as the irony of it, methinks!
“Houston, we definitely have a (policy) problem here!” 
I own 4 rental properties, because i am planning for my retirement and i don’t trust the stock market. If you want your rent to be $2000 a month instead of $1000 a month, go ahead and do your foolish proposal. No one with bad credit can buy a house, so those folks have to rent because they don’t manage their money. If you want affordable homes for rent, you can flush your idea down the toilet.
2 Likes
The real problem here is the cost to permit a new build. I could build an architecturally sound, aesthetically pleasing, extremely efficient, possibly off grid 1200 sq ft house out of mud and straw for $200,000-$300,000. But the permitting fees literally double the total cost to $400k - $600k. There’s no incentive to build small houses, and theres really no incentive for new builds at all in most cities or counties. If these fees were cut back, and builders were incentivized to add new starter home inventory, then there would be more houses and prices would go down and large investment companies would have more competition. If we also got rid of property and income taxes, more people could afford a house or two.
1 Like
Q. Why not use a limit to two residence if for tax purposes per family; and the rest as Business?
Keep it simpler.
As a FL resident; we’ve been limited to ONE and many families DO live and work in two places. It was a hardship.
On the other hand; many excessive business (rentals) may be more comfortable; but do have separate costly issues that can become overwhelming. ie" insurance policy increases, influx of damaging environmental reasons, careless renters, ect.
I hadnt heard that, could you explain how FL limits people to one house?
This is a BAD IDEA!
If you mean what you are saying, this is %^&*! It will hurt individuals, and the sale of properties as a whole. Good luck trying to upscale as many have. Even downscaling would be very expensive.
Sorry, I didn’t clarify. Florida allows one resident for homestead taxation; even if a second residential is owned in another state. The second resident will be assumed as a business RE property. Not sure how that secondary STATE applies for that property.
Something different though from experience that I learned in FLorida; is if a couple that owns TWO houses within FL gets divorced; the properties can be distributed one each; then between the TWO COUNTIES AGREEMENT, can take the difference between the higher valued property taxation and lower tax; making their choice of a split Taxation, in order to equate the Strain of the RE tax on one person to the other… This is our Constitutional Right.