Quote:
Originally Posted by 6thGear.
The only property that shouldn't have any tax (other than property tax) is primary residence. But everything after should have a tax system in place. Government can try to tax their way to a solution but reality sellers will just want a higher sale price to help cover the extra costs
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I don't own any secondary properties, so I don't have any investment in whatever is decided... but doesn't that just make rents higher? Any cost to an owner of a secondary residence just gets folded up into the rent to cover it. There seems to be an expectation developing that people who own secondary properties should lose money monthly and offer affordable rents even though it might only cover 50-75% of their monthly mortgage cost... but that is never going to be the case and why would it be?