return2ozma@lemmy.world to News@lemmy.world · 5 months agoAmerica’s housing crisis continues to worsen, renters are struggling more than homeowners, report sayswww.cnn.comexternal-linkmessage-square187fedilinkarrow-up1433arrow-down19
arrow-up1424arrow-down1external-linkAmerica’s housing crisis continues to worsen, renters are struggling more than homeowners, report sayswww.cnn.comreturn2ozma@lemmy.world to News@lemmy.world · 5 months agomessage-square187fedilink
minus-squareTwentySeven@lemmy.worldlinkfedilinkarrow-up2·5 months agoIt’s already like that where I live. It’s called the homestead exemption – property taxes are cut in half if it’s your primary residence
minus-squarePacattack57@lemmy.worldlinkfedilinkarrow-up3·5 months agoThe homestead exemption is not a tax. It is a discount on tax. Therefore there is no penalty for owning extra homes. Landlords not only benefit from the homestead exemption but also get you to pay the property taxes on the house you’re renting.
minus-squareTwentySeven@lemmy.worldlinkfedilinkarrow-up1·5 months agoExtra tax on non resident properties vs discounted tax on your residence. As far as I can tell, it’s the exact same thing
It’s already like that where I live. It’s called the homestead exemption – property taxes are cut in half if it’s your primary residence
The homestead exemption is not a tax. It is a discount on tax. Therefore there is no penalty for owning extra homes. Landlords not only benefit from the homestead exemption but also get you to pay the property taxes on the house you’re renting.
Extra tax on non resident properties vs discounted tax on your residence. As far as I can tell, it’s the exact same thing