This website contains age-restricted materials including nudity and explicit depictions of sexual activity.
By entering, you affirm that you are at least 18 years of age or the age of majority in the jurisdiction you are accessing the website from and you consent to viewing sexually explicit content.
I’d assume that as single-family homes rise in value other properties would too, so maybe the limit would just need to be adjusted fairly often? IDK I’m not a tax person.
OR, maybe it could just apply to additional properties? Like you get one free so a family home is safe, but every additional property you own gets a tax slapped on it or something like that?
I bring this up because California implemented Prop13 in 1978 to address similar issues and it had mixed results.
I agree with the idea of taxing secondary properties at a higher rate. But that could also have the unintended consequence of driving up rents and landlords look to recoup that money.