So it’s just too bad for the property owners whose values are reduced by this tax manipulation, and oh happy day for the ones elsewhere who benefit. Fair and constitutional thing is to have the same tax rates for all, not play winners and losers with the tax code and real estate values — too much of that already.
“The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;”
Taxes don’t have to be uniform throughout the US.
“So it’s just too bad for the property owners whose values are reduced by this tax manipulation”
LA, SF, DC and NYC property values aren’t held up by market forces.
Every person I still know in the DC area gets governmental rental help.
I once met a woman here in Venice, Florida looking for a place to rent that would take her subsidy money. She had a choice of housing that was surprisingly broad.