> Taxes have absolutely no effect on what the renter pays.
Of course taxes have an effect on the rent price.
If the property tax is very low and the market price rent for that unit is very high, you're right, the owner will charge the high price and pocket the difference.
But the reverse is obviously not true. If the property tax is quadrupled (as per OP proposal) and now the rent no longer covers the ownership costs there are only two possible outcomes: the rent goes up to cover the costs, or, if nobody is willing to pay the new higher rent the owner sells the property off to someone who wants to live in it instead of renting.
The latter is good if we want to incentivize home ownership for everyone. But it does take a former rental unit off the rental market, so if there are people hoping to rent a place, it's bad.
Of course taxes have an effect on the rent price.
If the property tax is very low and the market price rent for that unit is very high, you're right, the owner will charge the high price and pocket the difference.
But the reverse is obviously not true. If the property tax is quadrupled (as per OP proposal) and now the rent no longer covers the ownership costs there are only two possible outcomes: the rent goes up to cover the costs, or, if nobody is willing to pay the new higher rent the owner sells the property off to someone who wants to live in it instead of renting.
The latter is good if we want to incentivize home ownership for everyone. But it does take a former rental unit off the rental market, so if there are people hoping to rent a place, it's bad.