Comment by daveguy
1 day ago
I agree with this. I really do not know why in the hell one person or entity owning 500 houses wouldn't pay more in taxes for the 500th house than the 1st house. You pay more income tax on the 500,000th dollar than the first dollar. Land is taxed regressively in favor of oligarchs.
First house is claimed as homestead and gains on sale aren't taxed, but the yearly property tax should work similarly.
Where I live homestead status affects yearly taxes as well.
This is a negative for anyone who is renting since they now have to pay more rent to cover those taxes. (taxes set a floor on rent long term, though of course tax is only one factor in rental prices)