this post was submitted on 24 Aug 2023
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Economics

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Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)
submitted 1 year ago by CrimeDad@lemmy.crimedad.work to c/economics@lemmy.ml
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Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

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[โ€“] vivadanang@lemm.ee 3 points 1 year ago (1 children)

they could repurpose those buildings (difficult but possible) to dwellings, which would revitalize the downtown businesses - but no, they'll hold out desperately for a return to office that, if it was going to happen, would have happened already.

Meanwhile, there ain't enough housing. Everyone pays more and the core rots.

[โ€“] bobs_monkey@lemm.ee 2 points 1 year ago

The storefronts being talked about are already zoned mixed use, it's really just the first floor street side storefronts that are barren, with residential apartments 2nd floor on up.