3 ms·
> my property tax burden is like 10x the developer Care to elaborate? Why would that be the case?
by rifung 9y ago
> my property tax burden is like 10x the developer
Care to elaborate? Why would that be the case?
- ensignavenger 9y agoI'm not sure what the situation is for the OP, but in some areas, local governments give tax subsidies to developers. I like development, but I don't like tax subsidies for developers.
- Spooky23 9y agoValuation is based on net income, which is easy to game. Also, most new development in my area is getting partial 10 year tax abatements. So the owners get to undercut the rents, which drives more of the traditional 2-4 family houses to lower rents and less maintenance, and eventually to section-8, which is the price floor. So I get to pay more property tax, I get to pay for tax abatements via sales taxes, and we get to enjoy more traffic and a decline in the maintenance of legacy housing stock.