Vermontess

Vermontess t1_jayfxan wrote

Probably completely random, or possibly the fresh snow is giving everyone Vermont winter feels. But sadly there isn’t a Christmas light conspiracy that you are missing out on

Edit: it just occurred to me that we’ve had more sun in the last couple days than we have had all month. I wonder if all the lights you’re seeing are solar charged ones that are finally getting enough sun

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Vermontess t1_jawx1e4 wrote

Rent them the tiki boat at high country marina? They can cruise around the lake and nurse their hangovers.

Kinda agree with the other poster tho

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Vermontess t1_j9wdl81 wrote

Ive asked several landlords and they all say the same thing. Every time an apartment becomes available they get dozens of applications within a couple of days. Nine times out of ten the best candidate is a remote worker. They’ve even offered to pay above the advertised rent when things were at their most insane in 2021.

How are local workers supposed to find housing? Where are local businesses going to find staff?

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Vermontess t1_j9w5m5h wrote

There won’t be local businesses to spend money at if workers can’t afford to live here. Every small business owner I know is completely hamstrung and stagnant, barely holding on for lack of workers. They can’t pay their employees enough to afford living here.

This has also driven up the costs of local goods and services. We’ve all seen the posts here from entitled tourists and newcomers bemoaning the high costs, long waits, diminished level of service, lack of amenities, and shortened business hours that have resulted from the employee shortage

We are headed towards the gridlock that many ski mountain towns out west are experiencing. They are even seizing land through eminent domain to build affordable housing for locals and prevent ski companies from growing any further. They’re even actively tamping down tourism to give locals a chance to recover

https://www.adventure-journal.com/2022/10/colorado-town-seizing-ski-resorts-land-to-stop-it-building-employee-housing/

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Vermontess t1_j9vybzu wrote

There isn’t good data yet about how much the population has grown over the last couple years. We have been operating at a negative growth rate for decades so even a 3.5% increase year over year would impact the housing stock as it compounds very quickly to a significant number.

I hear what you are saying about tax revenue, but remote workers are straining our housing and labor markets and crippling our economy in ways that will cost us far more than they are able to contribute in income taxes. The money is better spent on those less fortunate. Covid, climate, and red state refugees will continue to flock here without tax incentives

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Vermontess t1_j9vj2g0 wrote

The huge influx of well heeled remote workers has almost doubled average home and rent prices over the last five years. Folks that cannot afford the huge increases are being forced to move and there is a massive dearth of workers for entry level, service, and trades jobs. There are definitely other factors at play, but that was the main driving force behind the huge run up in housing prices.

It’s highly questionable why the State would continue to use tax dollars to incentivize rich people moving here while they are slashing/ending all the emergency housing programs that are keeping people off the streets

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Vermontess t1_j9p573x wrote

Vermont’s laws, regulations, complicated permitting processes, and slow court systems have made being a developer or landlord very expensive here relative to other states. The risk/reward ratio just doesn’t make sense for anything other than luxury housing.

This is only one part of the perfect storm that we find ourselves in, but it is indeed a large part of the problem. Will be really interested to see what they come up with. Hopeful it will make a difference because something needs to be done, even if it’s not perfect at first

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Vermontess t1_j8rr13b wrote

They do lose their business. They are liable to lose their entire LLC and everything owned by it.

Over 70% of rentals in Vermont are owned by small or medium landlords and are usually held in LLC’s. The tax benefits of being a landlord are not anywhere near as advantageous as I had assumed before I read more about it for a family member

Personally, I think you're conflating LLC behavior with that more typical of corporate REI’s but I’m entirely sympathetic your EAT THE RICH vibes

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Vermontess t1_j8rks3n wrote

An LLC does not obsolve landlords of liability- they are still on the hook for damages and can be forced to sell the rental to pay damages to a renter. Most mom and pop landlords in VT use LLC’s so they don’t lose everything if someone slips and falls on some ice at their rental house and insurance doesn’t cover the damages. They would just lose their entire business, but in theory it protects the house they live in and other separate assets. The same way it is with a restaurant owner or grocery store owner or any other LLC business.

How can someone use an LLC as a means to avoid paying taxes? I understand there are bad actors at all levels, but what about an LLC specifically makes someone more likely to commit tax evasion?

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