• Rivalarrival@lemmy.today
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    9 months ago

    Increase property taxes, but provide an equal or greater credit to owner occupants, so tax rates for typical homeowners stay the same, or even drop. Only landlords who don’t live in the property (think: duplexes, triplexes) will pay higher tax rates.

    This will radically reduce the returns that a traditional landlord-investor can expect. Investors in Single-Family homes will be pressured to either sell their properties outright, or to convert to private mortgages (seller financing) or land contracts (rent-to-own). Mortgages and land contracts would qualify the occupants as “owners” and gain the owner-occupancy credit.