My dad inherited my grandma’s ancient house recently and is practically forced to find a way to remodel it to be rentable because there is a imputed rental value tax where I’m from.
I would think it could also be acceptable to transfer ownership to a relative who doesn’t already own a home. It just seems like a waste to have a house with nobody living in it while so many people are unhoused.
I don’t see this working. Not only the property owners would transfer this cost to your monthly payments, the government would need an enormous bureaucracy to actually control and enforce this law. I don’t believe this is technically possible to achieve.
You do, it’s called property taxes.
No, like market rate for the property. Everyone pays property tax, regardless of whether the property is vacant or occupied.
My dad inherited my grandma’s ancient house recently and is practically forced to find a way to remodel it to be rentable because there is a imputed rental value tax where I’m from.
What’s the alternative, just leave it empty?
I would think it could also be acceptable to transfer ownership to a relative who doesn’t already own a home. It just seems like a waste to have a house with nobody living in it while so many people are unhoused.
But they mean specifically a vacancy tax. So anyone who owned vacant property would have a large additional payment or get it rented
I don’t see this working. Not only the property owners would transfer this cost to your monthly payments, the government would need an enormous bureaucracy to actually control and enforce this law. I don’t believe this is technically possible to achieve.
They pass on a tax that doesn’t apply if you’re renting it?
Eventually somebody will rent it, and the monthly price will be higher to recoup the tax.