Property tax on single family homes should start low and increase exponentially for every additional house you own

Economy
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If you own just one single family house, property tax should be very low.

For each additional house you own, property tax rate should go up exponentially. Owning more than 2 or 3 houses should be unfeasible because of the amount of taxes you would have to pay on them all. Ex starting rate is 1% per year, so on a $1m house you are paying $10k per year. If you buy a second you are now paying 2% on both, so if the second is also $1m you are paying $40,000 total. Buy a third house and now it is 4% on all of them, $120,000 per year. 5 homes would be 16% every year, so $800,000 in taxes every year for five $1m homes.

Most importantly this doesn’t just apply to individuals, this also applies to companies. Don’t let Blackrock and Vanguard buy up all of the single family homes and make our entire population renters.

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There should be no property tax. That is rent to govt. People need to own their homes and other properties free and clear of govt confiscation.

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No. Life, liberty and the pursuit of happiness.
Why should we pay rent on land we own? And who are you or anyone else to put a limit on what we can own?? What kind of a nonsensical, marxist, self-righteous position is that?
So if I buy a plot of land, and build a house for myself, save up, then build another one for my mother-in-law are you gonna come over with your clipboard and tsk tsk tsk me for ‘having more than my fair share’? Get tf outta here communist.
Although, I agree with your last point. :smile:

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