Yes, gentrification replaces some existing tenants. But the new tenants might be renters as well?
> If you don't allow deferment of the tax, pensioners might have to move unwillingly (low income that may not cover the tax). Most proposals allow deferment for retirees until sale of the property, though, so it's kinda a non-issue.
Otherwise, banks can do that kind of deferral for you with something called a reverse mortgage.
> If you don't allow deferment of the tax, pensioners might have to move unwillingly (low income that may not cover the tax). Most proposals allow deferment for retirees until sale of the property, though, so it's kinda a non-issue.
Otherwise, banks can do that kind of deferral for you with something called a reverse mortgage.