Quote:
Originally Posted by Esel Mann
An interesting bill which i suspect the originators fail to recognize that it will screw the renter. Bigly.
The qualified taxpayer will simply raise rents to bake in the added tax like they do with any other expense.
Short term that will make non-qualified taxpayer properties desirable to the renter. Demand surges for an already limited supply, walla, rents then come in line with those of the qualified taxpayer.
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You raise rent by 25% the state gets 25% of that raise in rents.
Did you ever hear of RENT CONTROL? Ala Santa Monica...I worked with a guy that had 25 unit on the beach in Santa Monica and he was always complaining..ABOUT RENT CONTROL and the Queen of Santa Monica Jane Fonda...