Costs always get passed on to the consumer.
The rents on such properties would go up, and the situation would be made worse.

What if 10 people (who individually own their own house) club together and buy 10 properties to let? Should they be taxed at 0.5% annually? Why should they be punished for putting their eggs in multiple baskets, when they have only 2 properties each on average?

Why should someone who owns 3 shitty little bedsits be taxed more than someone who owns 2 gigantic mansions?

What do you propose to do about the inherent economic chilling effects that result from taxing accumulated wealth as opposed to the acts which cause wealth to accumulate?
(eViLegion Chief Commissioner of the Scottish Lunacy Board, Fri 24 Apr 2015, 11:03, 2 replies)

2 House limit then.
Want to buy a 3rd? Go to Spain yer bloody house hoarder.
(smellysamlyingcable Seaman on, Fri 24 Apr 2015, 12:44, closed)

the rent will go up the same as the extra tax.

(waxdart hello., Fri 24 Apr 2015, 14:50, closed)

possibly, but the owner would make no extra money, it would raise revenue for the governemtnt, and he would be less competitve against people with only one investment property who didn't have to pay this tax
If it became an issue he may even sell for slighly cheaper than he'd like
now do you begin to comprehend the genius of this plan?
( cumquat may will not be commenting further on the allegations, Fri 24 Apr 2015, 17:01, closed)

So, you're basically recommending a measure which makes no difference to the landlord,
but adds an additional tax to be paid by the renter? I had assumed you were left wing, but I now see you're further right than the Tories.
(eViLegion Chief Commissioner of the Scottish Lunacy Board, Fri 24 Apr 2015, 17:48, closed)

you might disagree wtih my reasons, but I did say why it would make a difference to the landlord
If I have to repeat myself this could get a litte tedious
( cumquat may will not be commenting further on the allegations, Sat 25 Apr 2015, 7:22, closed)

I believe the difference it would make would be much less than you think.
Without increasing the possibility for competition to the market you're not going to drive the prices down. People will still be priced out.
(eViLegion Chief Commissioner of the Scottish Lunacy Board, Sun 26 Apr 2015, 19:46, closed)