Economics

1706 readers

2 users here now

founded 5 years ago

MODERATORS

380

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 [email protected] to c/[email protected]

120 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 1 year ago (1 children)

So, if I own a condo in a high rise building, how does this work? Does the building get the tax, and that gets divided up among all the condos? Or does each living space get it's own tax?

[–] [email protected] 4 points 1 year ago (1 children)

Would get divided based on your share.

[–] [email protected] 1 points 1 year ago (1 children)

Except in cuckoo-land (UK) where most apartment owners don’t own any part of the land where their property is built. It’s called a leasehold and is batshit insane.

[–] [email protected] 1 points 1 year ago

So rental that gives the same development right as owning the place but without it being for an indefinite length of time? So you need to have a return on investment before the lease expires otherwise why not just go for a normal rent? 🤔