4 ms·
in austin people are getting priced out because of taxes. Mainly poor minorities. It is called gentrification. Houses that were 50K 10 years ago are now 400K w
by achenatx 7y ago
in austin people are getting priced out because of taxes. Mainly poor minorities. It is called gentrification.
Houses that were 50K 10 years ago are now 400K with a 2.5% property tax rate. If they are renters, then their rent went up to cover the taxes.
In my area houses are up to 1m+ which results in property taxes of 25K/year so even middle class families and retirees are getting taxed out.
The city is trying to approve density city wide and the NIMBYS are trying to block it. Ill laugh when they all get taxed out 10 years from now.
- jelliclesfarm 7y agoHigh density isn’t the answer either. I don’t know one high density city in the entire world where housing became affordable and available for all as density increased. Medium density and spreading out is the right solution. The example that comes to mind is the snail shell structure/concentric circle design of Paris, France.