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Metropolitan DC Local Politics
Reply to "Elrich property tax increase"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why doesn't the county only raise taxes on people who don't use the property as their principal residence. So, for example, no change for principal residences, and 30% increase for all others? I would support that. [/quote] Because we have a housing shortage that leads to high prices. If we want affordable housing in this county then we need to encourage more investment rather than put up barriers.[/quote] But mainly we can't do it because the county can't charge different rates based on principal residence.[/quote] But it could charge a different effective rate by increasing the income tax offset credit and raising the base rate. Higher property taxes also affect affordability. They’re going to drive rents up and PITI. There’s no formula for increasing the tax rate that avoids making housing here less affordable. [/quote]
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