We need to incentivize more families to become homeowners and strengthen our communities. To achieve this goal, we should implement a policy that removes property taxes on a family’s first home, provided its value is under $1 million. For homes valued above this threshold, a small percentage of property tax would apply only to the amount exceeding $1 million. This approach encourages home ownership while ensuring fairness.
Corporations, on the other hand, should always be required to pay property taxes, potentially at a higher rate than individuals. This measure aims to prevent large-scale property acquisition by businesses at the expense of individual homeowners.
Furthermore, to protect the interests of American citizens and maintain control over our real estate market, we propose that only U.S. citizens should be allowed to purchase property within the United States. If a business wishes to buy U.S. property, they should be required to incorporate within the country. This ensures that all property owners have a vested interest in the local community and economy.