this post was submitted on 24 Aug 2023
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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 [email protected] to c/[email protected]
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cross-posted from: https://lemmy.crimedad.work/post/12162

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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[–] [email protected] 3 points 1 year ago* (last edited 1 year ago) (2 children)

Let's be clear, in the UK, parents can almost always leave behind over a million pounds worth before any tax starts kicking in. Not to mention the thousands of easy loopholes.

[–] [email protected] 2 points 1 year ago

Haha, in the US it’s more like $25 million for a couple. Though I see that in 2026 it’s slated to drop to only $14 million per couple.