Should A Second Vacation Home Be Taxed More Than A Year Round Resident?

W

WhatInThe

SF VIP
Should a second vacation home, apartment, condo etc be taxed more than a resident you resides in their dwelling year round? If you own it shouldn't you be taxed just like other owners? Isn't ownership ownership regardless of residency?

At the center are some luxary apartments being used by their owners for vacation or occassional use, not permanent residency.

http://gawker.com/people-with-25-million-pied-a-terres-should-be-taxed-t-1646647377

http://gawker.com/absent-californians-pay-40-7-million-in-cash-for-empty-1675781650

I don't know just paying the taxes on the purchase/transaction itself might bring in more revenue depending on each localities tax law. And if second homes were taxed extra many would not buy a second home leaving places like Florida and Jersey Shore flat out of luck.

They are obscene prices but they voluntarily paid them.
 

In Arkansas a second home doesn't get the homestead exemption. Otherwise taxes are the same.

When I win the lottery and purchase a second home I'll find out more about it.
 

smiley-confused013.gif Right now we have a minority family living in government housing getting a government check and vacationing in their home in Hawaii!!
 
I have a 2nd home and it's taxed at a higher rate than my primary residence... only because it does not qualify for the homeowners exemption. So I pay the full tax rate.
 
Not sure how things are done here [we don't have a second home] but if you think about it, maybe the tax or rates or whatever it's called should be a bit less for the second home, as the residents won't be using the facilities much will they?
 
I really don't care one way or the other, but if people can afford a vacation home, good for them. It should be treated no different than a regular residence is treated. I figure the average Joe works hard and if he can afford a home in Florida or wherever that he can build on for retirement, great. If it is a rich guy that owns a second, third or how many other homes, then he is paying taxes more tan I am already, so that's OK, too.

I don't like beating up on people because they have more than I do. I know the thing now is to have the rich pay more of everything and they should share their wealth, but why? Because they can is the easy answer and they are willing to do so, or at least most of them are. Warren Buffet said one time that he thinks the rich should pay more income tax, so go ahead and cut the IRS a check. You can always pay more without being told or made to do so. And, that would also be deductible. (I think.)
 

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