alt Hacker NewsProperty taxes are directly and immediately translate into higher rent.
Making rent more expensive doesn't make ownership cheaper, just makes it more attractive relative to renting.
Replies
MikeNotThePope • last Wednesday at 9:52 PM
Yes & no. Higher costs can obviously be passed onto consumers, but higher taxes make things a less attractive investment, too. The higher your costs regardless of whether a unit is occupied or not, the less interesting it is an an investment.
Property taxes do not directly translate into rent, the % of the tax that is on the land value of the property can't be passed on, because the supply of land is inelastic.
https://www.astralcodexten.com/p/does-georgism-work-part-2-c...