[Eagle Eye]

Renters pay property taxes, too. There is no new tax revenue generated with this.

[Phantom Lord]

A rental property owner who owns his own residence generates more tax revenue than does 2 homeowners. The first increase in tax revenue comes from the income tax paid rental income. Many rental property owners also higher maintanence companies for upkeep and lawn service. And when they sell the rental property they pay capital gains taxes where the sale of a primary residence does not as long as they meet some minimal requirements.

[Sinner6]

Yes there is, homes that are owner occupied appreiciate at a greater rate then non-owner occupied. Thus tax revenue increases.

[CurlyDave]

Renters pay property taxes, too. There is no new tax revenue generated with this.

This will increase the price of all houses by increasing demand. Therefore it will increase property taxes, however marginally.

If one is an investor in single family housing this bill will benefit you in two ways:

1. Immediate price increase.

2. Bargains in distressed properties coming soon as these people are foreclosed.

As a landlord, I have looked at the home-ownership vs. renter question for a number of years. Among people with similar incomes the largest distinguishing factor between homeowners and renters is not income. I rent houses to people whose income would more than qualify them for purchase of a home with existing mortage plans.

The primary difference is that, in general, renters lack the ability to plan ahead, and therefore never save for their goals. Families with good incomes will have no savings, or at best one or two months income worth of savings.

It is absolutely amazing how families will treat the rent being due on the 1st of the month as a "nasty financial surprise" rather than a predictable expense which can be budgeted.