Reply to “Mansion tax” to be introduced by Grosso in DC for homes worth over $1million

Forum Index » Metropolitan DC Local Politics

Reply to "“Mansion tax” to be introduced by Grosso in DC for homes worth over $1million "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]

Gentrification is a bad thing. People shouldn’t be pushed out of their homes because they can’t afford the new tax assessment. Dumb.[/quote]

Gentrification is complicated. Those who own their homes are least likely to get pushed out, because they own their own homes, you know. Renters are the ones who are really at risk. Homeowners who are facing rising taxes have also experienced significant wealth increases from the appreciation.

I lived in Shaw in the 1990's when property values were taking off. I sold my house for almost four times what I paid for it, six years later. It was hard on renters, but I never met a homeowner who was dismayed at the rising values. We might grumble about the taxes going up but it was a form of humble-bragging. What did exist was lots of people who were outraged on our behalf.

DC has one of the lowest residential tax rates in the country -- 85 cents per hundred. Your house goes up in value by $100,000 and your taxes go up by $850. It's hard to imagine a person who wouldn't take that deal. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics