If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
To an extent “Homestead Exemption” can do this, if the exemption is a significant chunk of the taxable value - which it has been at some times (my first house’s HX was 50% of its taxable value), and not so much at other times (we’re at about 10% now)…
So, if you’ve got 50% homestead exemption, you only get that on your first home and you pay double taxes on others. But, if you’re playing in the 10% bracket that’s basically in the noise.