Tuesday, August 7, 2018

New regional taxes for Affordable Housing. MTC is after your wallet.

1. Lower voter threshold to 55% from 66% for infrastructure and affordable housing tax measures
2.Redevelopment agencies that use Tax increment financing. In other words, they redevelop the area and then tax everyone for the privilege of having their neighborhood destroyed.
3.New "Affordable Housing Authorities" that issue 45 year bonds without voter approval. "Capture" equity increase from real estate.
Nice little package of benefits for the affordable housing industry.
July 18, 2018 Outrageous request for more taxation to building so called affordable housing for people making up to $120,000 where the average household income is $89k. Middle class retirees and moderate income families will be force to subsidize WEALTHIER families that earn more than them. The "affordable housing" development industry is pushing hard to socialize housing costs to provide them funds to build. Does anyone stop and consider how dumb it is to do this? Tax the poor so the middle class can have more?

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