Reply to MoCo looking at increasing income taxes for those making above $150K

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

The reason our county is broke is because of emotional responses like this.  Math doesn’t have feelings.   [/quote]

Every community needs housing for people with a variety of incomes. That's not an emotional response, that's a reality. You suggesting we shouldn't have renters in MoCo is not a math-based assertion, it's just ignorant and hateful.[/quote]

There’s a lot of daylight between “appropriately balanced” and “shouldn’t have” any.  Fight the emotional reflex.  [/quote]

What "balance" would you like? [/quote]

DP. Since the local budget is driven mostly by the school budget, large commercial apartment complexes don't pay enough in taxes for the school resources they consume. Outdated assessments and tax forgiveness for developers just exacerbates the problem.[/quote]

okay so you don't like renters. What percentage of renters versus homeowners will you tolerate?[/quote]

Not many. The 220 unit apartment building near me pays $90,000/year in taxes. That's $409 per unit every year for all the county services they use.[/quote]

So the "balance" you want is zero renters?[/quote]

Not zero, but high density housing needs to pay their fair share in property taxes. [/quote]

The apartment building near me pays $2,500 per unit which seems fair to me. My tax bill is at least 3 times as large as most of those units and includes a backyard. We pay less than 3 times as much.

The buildings that pay less usually have subsidized units in them which is important. We need housing for people with low incomes. If you don't like that we are paying developers to provide them, feel free to advocate for the government to construct more low income housing. But the notion that people with low incomes should just not live here is sociopathic and ridiculous.[/quote]

The assessments for apartment buildings are all over the map. They are based on how much revenue the owners report, but the fines for not reporting revenue are often less than the cost what the tax increase would be, so sometimes the landlords don’t report.

An apartment building at Pike and Rose that sold earlier this year went for 30 percent more than its assessed value. An apartment building a little further south went for twice its assessed value a few years before that. These were nine-figure deals so the tax loss is significant. On a smaller scale, a lot in downtown Bethesda that has an approved high-rise plan sold for ten times its assessed value. Even after the sale, the assessed value of the property didn’t increase during the property’s regular assessment cycle, because there’s currently a small commercial property on the land that doesn’t generate much rent.

The system is totally broken. The county’s high proportion of SFH and condos used to hide the problems in assessments, but revenue has lagged as MFH has become a higher share of the housing stock. That and the lack of business growth has made budgets tough. [/quote]

The assessments for SFH and townhomes are also horrible. Look at the assessments for each home in a single townhome community. It is insane. This is a state issue as the county does not conduct assessments. [/quote]

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