• Rivalarrival@lemmy.today
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    11 months ago

    Exorbitantly high residential property tax rates, with even higher owner-occupancy credits.

    Landlords will stop renting, and start issuing land contracts or private mortgages. “Tenants” will hold the deed to the property, and be earning equity. “Landlords” will have a major incentive to get their investment properties under contract and out of their name, lest they face a huge tax bill.