This bill aims to limit the number of single-family homes that one person or company can own to promote fair housing access. It imposes a tax on those who exceed this limit to encourage selling excess properties.
If you own more than 75 single-family homes, you could face a hefty tax on each extra home.
Who this affects
real estate investors · companies with rental properties
What changes is this bill making?
1This bill would stop individuals and companies from owning more than 75 single-family homes.
2If someone owns more than 75 homes, they would pay a tax of $10,000 for each extra home.
3The bill includes exceptions for certain groups, like non-profit organizations and home builders.
4It defines a single-family residence as a property with up to four living units.
5The goal is to prevent excessive ownership of homes by a single entity.
