If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
Some places do this. I have heard a few Welsh areas have gone for much higher council tax (approximate equivalent to a shitty property tax) on second homes. They are allowed to charge up to 4x the normal rate.
If you are renting it out as a holiday rental you can be exempt from the normal council tax but they are now requiring you to actually rent it out. It must be available for at least 252 days of the year and actually used for at least 182 days so you can’t just set rent to unaffordable amounts.
Hearing the crying about it has been great.