IMO the fair amount doesn’t cover taxes. Property taxes in the US are mostly a measure to cool down the rate at which landowners accumulate wealth from land value rising. Since the renter isn’t getting equity in your scenario, if the renter is paying the property taxes then the landlord is profiting from the system where every other landlord hoards housing to increase its price.
Another way to look at it is that if the property tax didn’t exist at all in this scenario, the landlord would still be accumulating wealth without working at the expense of the people who have to buy the house later, i.e. they’re exploiting them (or, more likely, the future tenants who will pay off the future landlord’s mortgage). Even with the property tax existing the house is going to gain more value than what the owner loses to property tax, but that’s somewhat outweighed by inflation.
IMO the fair amount doesn’t cover taxes. Property taxes in the US are mostly a measure to cool down the rate at which landowners accumulate wealth from land value rising. Since the renter isn’t getting equity in your scenario, if the renter is paying the property taxes then the landlord is profiting from the system where every other landlord hoards housing to increase its price.
Another way to look at it is that if the property tax didn’t exist at all in this scenario, the landlord would still be accumulating wealth without working at the expense of the people who have to buy the house later, i.e. they’re exploiting them (or, more likely, the future tenants who will pay off the future landlord’s mortgage). Even with the property tax existing the house is going to gain more value than what the owner loses to property tax, but that’s somewhat outweighed by inflation.
I think that’s a totally fair point
Main reason I said maybe is I hadn’t thought it through thoroughly and didn’t want to take a stance lol