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.
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.