this post was submitted on 24 Aug 2023
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Economics

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Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)
submitted 1 year ago by CrimeDad@lemmy.crimedad.work to c/economics@lemmy.ml
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Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

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[–] PowerCrazy@lemmy.ml 2 points 1 year ago (1 children)

There are lots of ways to tax landowners, but ultimately they all punish landowners for existing (which is a great thing for society) so instead they become weird neo-liberal market based schemes like tax credits for entrepreneurs who own land in a disadvantaged area for at least 3 years. so that the people that will be targetted by the tax are able to avoid it by claiming that they also own the bodega in their slum, thereby making them an entrepreneur.

Ultimately it's not that the people proposing these taxes can't come up with better tax schemes, it's that they are paid to come up with ridiculous schemes that are designed not to eliminate landowners.

[–] soviettaters@lemm.ee 1 points 1 year ago (2 children)

So...who should own the land instead?

[–] DaSaw@midwest.social 0 points 1 year ago (1 children)

The occupant should own the land. Absentee landlordism shouldn't be a thing.

[–] soviettaters@lemm.ee 1 points 1 year ago

Ah, well OP said "landowners" in general

[–] PowerCrazy@lemmy.ml -4 points 1 year ago (1 children)

Well your name has "soviet" in it, so maybe look at the place landowners had in various "soviet" nation states.

[–] soviettaters@lemm.ee 1 points 1 year ago

So...the government should own all land?