Avid Amoeba@lemmy.ca to News@lemmy.world · 3 months agoMamdani Threatens 9.5% Property Tax Increase if Wealth Tax Is Not Passedwww.nytimes.comexternal-linkmessage-square74linkfedilinkarrow-up19arrow-down10file-text
arrow-up19arrow-down1external-linkMamdani Threatens 9.5% Property Tax Increase if Wealth Tax Is Not Passedwww.nytimes.comAvid Amoeba@lemmy.ca to News@lemmy.world · 3 months agomessage-square74linkfedilinkfile-text
minus-squareporous_grey_matter@lemmy.mllinkfedilinkarrow-up0·3 months agoThat would leave properties empty with high taxes, pretty bad financial decision for a landlord. Leaving properties empty to land bank works if they don’t have to pay anything but it would be ruinous in this scenario. They will lower prices.
minus-squareRamRabbit@lemmy.worldlinkfedilinkarrow-up0arrow-down1·3 months ago That would leave properties empty with high taxes Welcome to New York City. This is already the case.
That would leave properties empty with high taxes, pretty bad financial decision for a landlord. Leaving properties empty to land bank works if they don’t have to pay anything but it would be ruinous in this scenario. They will lower prices.
Welcome to New York City. This is already the case.