So, not taxing something is a subsidy? Not taxing income twice is a subsidy?
Wait... what?
the mortgage tax deduction also subsidizes rents by keeping the landlord costs down
if I can’t dedust interest, my costs of owning that rental house go up, as surely as the market will allow, I will raise the rent accordingly
a lot more people should be competing for rentals if there is less advantage to ownership other than psychological
or of course I could just sell my rental property, right now my property tax bill is double that of a residence next door, because owners get a homestead credit (another loophole to get rid of for owners who are indignant about govt subsidizing their homes)
I would enjoy screwing the city out of about $3000 a year in excess evil landlord property tax that owner-occupants do not pay
if I can't deduct interest, my costs of owning that rental house go up, as surely as the market will allow, I will raise the rent accordingly
plus a lot more people should be competing for rentals if there is less advantage to ownership other than psychological
or of course I could just sell my rental property, right now my property tax bill is double that of a residence next door, because owners get a homestead credit (another loophole to get rid of for owners who are indignant about govt subsidizing their homes)
I would enjoy screwing the city out of about $3000 a year in excess evil landlord property tax that owner-occupants do not pay