Owner Occupant vs. Non-Owner Occupant Property Taxes on Residential Property
My in-laws inherited a property in West Virginia. In a soft market they decided to rent it instead of selling. When the taxman found out that it was a rental the property taxes almost doubled.
What is the political calculus behind this? Is this a "tax the rich" mentality? How is this consistent in red counties/states?
Does anyone know which states and counties do this? Does it happen in your state?
I can't any list with a state by state policy. It would be an interesting list for out-of-state investors as well as these tax codes are effectively discouraging investment.