Comment by pydry

7 months ago

Currently renting retirees are forced out already if they dont pay their rent.

Can you confirm that you wish to see this practice completely banned (i.e. no payment of rent) to prove that you're not taking a two faced stance on this issue?

What we are talking about is different - a tax incentive to move to somebody who has benefitted from a large capital gain.

3 comments

pydry

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sokoloff  7 months ago

I’m fine with (and in support of) market forces to let grandma decide that it’s worth selling her home; I’m not okay with using government mechanisms with no market reference points to price her out of it. (Raise everyone’s property tax rate and reference appraisals to market sales? Fine. Determine that her specific piece of land is worth $X despite no comparison of open-market land-only transactions? Not fine.)

From that, it’s fair to conclude that I’m ok with renters having to pay market rent, regardless of their age or matriarchal status.

  • pydry  7 months ago

    >I’m fine with (and in support of) market forces to let grandma decide that it’s worth selling her home

    Ok. Sounds like you are in favor of market forces driving grandma on to the street when she rents but not in favor of market forces driving grandma to sell up and move to a smaller cheaper property.

    Maybe the pearl clutching about poor grandmas was a little overstated.

    >Determine that her specific piece of land is worth $X despite no comparison of open-market land-only transactions? Not fine.)

    LVT is calculated and imputed using open market transactions. If unimproved property values all jump in an area thats coz the land value went up.

    • sokoloff  7 months ago

      I’m in favor of market forces in both cases.

      Show me a way that LVT can applied referencing open market transactions for unimproved land in a developed area and I’m interested to learn more about it.

      Grandma can decide to sell her house on the market if the property taxes get too high. That’s good. She shouldn’t be able to be targeted by the city for her land value alone increasing despite no or weak supporting comps.

      LVT is theoretically good. My problems with it are practical ones.