What an advocate for your cause you must be. |
Wait until the DC government starts raising tax assessments to reflect the new assumed value if the lot were fully developed. Once people start to see their property tax bills double, more will be forced to sell out. |
Well, if they’ve got the homestead deduction, then their bill can’t double in a year, even if the assessed value does. |
Right, but trying to keep white people from moving to black neighborhoods and displacing existing residents is not “segregationist.” |
So is Ward 3. In just two blocks of Wisconsin Ave, between Rodman and Upton Streets, there are 1500 new homes under construction or about to start (City Ridge and 4000 Wisconsin). These are among the largest current housing developments in the District. Add to these major projects the Lady Bird development in AU Park and various smaller projects up and down Wisconsin Ave., and the Ward is close to meeting the mayor’s ballyhooed housing goal by 2025. |
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Yes, it is. But it’s ironic when the shoe is on the other foot. |
Because moving sucks? Because you like your house? Because if everyone starts doing this in the numbers you’re suggesting, that would inflate prices at the level above yours and keep you from moving to a nicer house anyway? Even in fast-gentrifying neighborhoods, a lot of people who could sell their houses for enormous profits don’t. (And developers don’t pay a huge premium, anyway, because they have to then put money into redevelopment — they tend to pay cash, which speeds transactions, and they don’t care about repairs or finishes or whatever, but I’m not sure buying your house now worth $1.2 million for $1.9 million or whatever is going to fit their business model.) |
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The annual increase may be capped, but DC can still raise assessments very substantially in a few short years. I know. |
Thats a scary thought. Starting to sound a lot like eminent domain. |
No. More like “gentle eminent domain.” |
Raising tax assessments to keep up with rapid property value growth is, for the record, something that is already happening all over the city (in neighborhoods that weren't already expensive). But the homestead deduction caps the increase in your actual bill in any given year. No one is going to "be forced to sell out" in AU Park because of tax bills. Eminent domain is something else entirely, but you know that. |
So this is a great point but it turns out that these new development number (There are actually 2000 units if you include Ladybird on Mass) only count towards the Mayors number if they are low and moderate income housing (numbers that are determined by the Mayor). So of the 2000 units being built right now, builders are only required to declare 10% as low and moderate income housing. So to get the number that the Mayor wants for Ward 3 (2500 affordable housing units), Builders actually need to find places to build 25,000 units total of multi family housing. That will require 2,500 of which to be declared 'affordable'. |
| It seems rash and reckless to push this now in the midst of a global pandemic. Density is not desirable right now. The fact that the mayor is going full steam ahead on this suggests to me that she is in the pocket of the developers. Not a good look, especially during a time of crisis when leadership is so important. |