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I know this because the government has a long and storied track record of spending more and more and more money for worse and worse outcomes. Just look at the public school system for starters.
Because normally they wouldn't be able to take an exemption on their current home they occupy and thus they would contribute more to municipalities take on property taxes.
Quote:
Originally Posted by GSPNative
Then the landlord wouldn't be able to take an exemption on the house where she currently lives. You can get only one owner-occupied reduction.
So the government's coffers would go up by the additional tax payment on the landlord's current house.
Has it been established that the landlord lives in the same municipality?
If so, you're correct.
If not, and he lives in another state, then you're wrong. There would be exactly zero difference in the money collected.
And the guy is probably claiming the exemption there too, if it exists
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Also, to return to original topic/question - is OP going to do the right thing or wait to "do the right thing" when it won't affect his friend?
Quote:
Originally Posted by edglock21
If you've convinced yourself that it's the right thing to do - do it immediately and let come what may for your friend's rent.
If you don't, it's beyond morally dubious - you're just petty and looking to assuage your guilt by telling yourself you're "doing the right thing".
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Last edited by edglock21; 09-01-2021 at 06:38 AM..
Reason: getting back on topic
Has it been established that the landlord lives in the same municipality?
If so, you're correct.
If not, and he lives in another state, then you're wrong. There would be exactly zero difference in the money collected.
And the guy is probably claiming the exemption there too, if it exists
.
Also, to return to original topic/question - is OP going to do the right thing or wait to "do the right thing" when it won't affect his friend?
As to "what state" in a lot of cases it will depend on the states and where residency is claimed. We have a number of snowbirds here who claim residency in Florida so their Maryland houses aren't Homestead exempted although their Florida ones are.
The main reason they do that is for the state income tax, Maryland taxes pensions while Florida doesn't. With the recent insane run up in house prices here that may come back to bite them on the property taxes.
No, I just walked into the county attorney's office with printouts of the addresses, where people were claiming to be owner occupants and handed them to her.
I would notify the county if I knew exemptions were being claimed improperly.
Here's another issue, especially when you start talking about vacation rentals without approval, you're essentially placing a commercial use in the middle of a residential area.
Get licensed and approved with the various conditions, pay any Lodging Tax imposed if it's a VRBO and it's can have problems but at least it's regulated and there's a process for enforcement.
I really hope your friend who’s renting is planning on moving out soon? I guarantee once the property owner gets a new tax bill they’ll be passing it onto your friend. When they complain about their rent being raised please tell them what you did.
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