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Start ratcheting up the property tax to improve utilization. Unaffordable homes are only affordable if the cash flow requirements are low. If there was an ext
by lumost 5y ago
Start ratcheting up the property tax to improve utilization. Unaffordable homes are only affordable if the cash flow requirements are low.
If there was an extra 3-6% property tax, it would align interests towards construction and punish speculators.
- epistasis 5y agoYes, that would be ideal!! However homeowners in the late 1970s wrote into the state constitution that property taxes would be based on purchase price, and never increase more than 2% per year. It's called Prop 13, and it needs to die. However, I fear it won't until there is a generational change.
- deleted 5y ago[deleted]