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[quote=Anonymous][quote=Anonymous]I think it is Biden’s commercial real estate donor class. [/quote] It's more than that. DC is going to face a massive property tax shortfall if office buildings get revalued downward by 50%. CRE pays property tax rates that are 2x of DC homeowners. It will start a services cut-tax hike spiral on the remaining residents if CRE takes a big haircut. It will be Democratic-voting big cities that will face the brunt of these revenue shortfalls. Crime will go up, schools will get worse, poverty alleviation programs get eliminated, etc. My kid is in DPR summer camp right now at our local park. It's an amazing program and costs me $150 for two weeks for 8am-6pm daily care + all food covered. It's safe, fun, and has a good curriculum of play + art + learning. It's dirt cheap and he has fun. If CRE gets revalued down by 50%, that summer camp option gets eliminated. Or it goes up in price so much that poor and MC DC families can't afford it. [/quote]
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