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[hussein]

For the rental properties they buy?

That sort of is a deterrent for out-of-country purchasers from buying up tons of domestic properties, jacking up the rents, and renting them out to make a profit.


We need policies like that in America.
Heck, we need policies like that in TEXAS. Native Texans are being crowded out of their own real estate market because of locusts (i.e., Californians).

[adalwine]

Some states do "homestead" real estate taxes. The impact is lower real estate taxes for your primary residence.

Here in Minnesota we pay far lower real estate taxes on our primary homes and much higher on rentals and secondary homes.