points by Den_VR 1 day ago | 0 comments
Its a homestead exemption. Folks just living in their homes will be under less pressure to sell. Folks renting out homes will continue to pay full tax. With the behavior of property valuations, this seems rather humane.
[–] justindz 1 day ago
[–] Den_VR 1 day ago
I suppose my point is mainly to look at the equation from the other side. Sure, “the market” might be more efficient if people without sufficient income, have to leave their houses that are high valued and that allows for more affluent people to live in those homes and pay more taxes.
But we might say it does not feel very humane
[–] Timon3 1 day ago
I didn't read GP as expressing any explicit judgement - it's a simple question of the political reality, no matter what position you take. If the state takes in fewer taxes, the shortfall must be balanced by some combination of:
- increases in other taxes/other income sources
- decreases in services
- public debt
As someone who shares your view that housing shouldn't be purely market-driven, IMO it's especially important to consider the other side of the equation, because some people invest a lot of time, effort and money to prevent the first option.
One "obvious" income source would be to hire more tax collectors and let them focus on the largest conglomerates, but not like that's ever gonna happen.
[–] techlover14159 19 hours ago
This will push housing providers (landlords, especially those who own 1-4 unit properties, primarily mom and pops) to sell to those who want to live there.
This means the supply of 1-4 unit homes will go down over time for those who want to rent.
[–] HDThoreaun 1 day ago
Around 45% of FL property wealth is a homestead. Thats a huge amount of money the state will be leaving on the table. Just like prop 13 the magnitude of the tax breaks will grow and grow and grow until eventually newcomers are fucked and incumbents form a landed gentry. Florida will face a revenue crisis because of this but itll be a decade+ from now
Not being nitty, just didn't follow how your point connected and wanted to make sure I understood it.