I don't know what to tell you except that I know several rich people who do this as part of their long-term investment strategy. they buy the property, let it appreciate, and either sell it at its increased value or take property loans out against it. the properties are traded just like stocks. Oftentimes they might pay to renovate the property to increase its value, but at the end of the day what matters to them is the ownership of the property and not whether or not it's being rented.
if you own property, either your house or any other kind of real property, I highly suggest you familiarize yourself with the property tax rules for your county and State.
I count 18 states that have assessment limits, over 1/3 of the US. It's way more common than you think. In all these states this investment strategy could be viable in a growing market.
I don't know what to tell you except that I know several rich people who do this as part of their long-term investment strategy. they buy the property, let it appreciate, and either sell it at its increased value or take property loans out against it. the properties are traded just like stocks. Oftentimes they might pay to renovate the property to increase its value, but at the end of the day what matters to them is the ownership of the property and not whether or not it's being rented.
if you own property, either your house or any other kind of real property, I highly suggest you familiarize yourself with the property tax rules for your county and State.
given your lack of understanding of property tax law, I highly doubt it
I count 18 states that have assessment limits, over 1/3 of the US. It's way more common than you think. In all these states this investment strategy could be viable in a growing market.
https://www.kiplinger.com/taxes/property-tax-cap-by-state