> Bad Government is the reason rents are high. > > It is the private affordable housing providers that are required to > collect enough rent to pay the taxes that fund our Government > and their idea of affordable (subsidized) housing. > Minnesota is one of a few freak states that tax a rental home at > a much higher rate than an owned home. Why??? >
Because it encourages owner-occupancy and because a rental property is not a homestead. It exists for business purposes, i.e. to make profit therefore it is taxed as both a property and as a business. For example, I could make decent money on my house if I rented it out and bought a different one somewhere else. This would deprive someone of the same benefit I have, i.e. an affordable place to live, so if I rent it instead of live in it, I can expect to pay higher taxes. As it is, I pay less for mortgage, insurance and taxes than any of my friends pay for rent alone, and I get equity and tax deductions. What does a renter get? A place to live, yes - but no long term security, no equity, no tax deductions (although there are rent rebates.) Rental housing exists to make a profit off of others' need for housing. _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
