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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here.  So it looks like he's updated his proposal to focus on homes $1.5m+ and also 5m+.  I'm a little better with this, although it seems that with inflation, this will need to be updated in 10 years when 1.5m is no longer a "mansion."

https://dc.urbanturf.com/articles/blog/more-details-emerge-on-proposed-dc-mansion-tax/15396[/quote]

In other words, OP, as long as it doesn't cost you, it's fine. You want stuff for free but don't want to have to pay into the system to get it.[/quote]

This.   [/quote]

LOL.  "I'M barely getting by with my 1 million dollar home, but HE is rich with his 1.5 million dollar home."[/quote]

We stretched and stretched to buy our home 10 years ago at WAY less than 1 million. It happened to be a good investment and is appraised at just under a million now.  But that doesn’t mean that we can afford some kind of luxury home tax. It means that we are a couple of poors who made a smart real estate investment. 
[/quote]

OP here, yes, this is our situation too.  We're in a somewhat hot area and so I think our home would appraise for close to $1m pretty soon, but it's far from a mansion, and we're quite far from rich.[/quote]

Do you really not recognize your privilege?  You bought a home for a relatively low amount and it's now worth $1 million dollars.   You have major equity in this home.   If you were truly "poor" you would sell the house if you couldn't afford the taxes and buy somewhere cheaper.  But no, you just want to cry poor from your million dollar home.[/quote]

This is an entirely reasonable position.  But, I wonder, PP - do you also apply the same standards to the AA grandmother who is can't afford her taxes?  Or the working class AA family who can't afford rent because property values went up?  Or are they the victims of gentrification, and we need to do everything we can to protect them?

you can't have it both ways - pick one.    [/quote]

The AA grandmother already gets a massive 50% property tax discount in DC just by virtue of being old.

https://otr.cfo.dc.gov/page/homesteadsenior-citizen-deduction

City services are not free. Old people need to pay their fair share. They can tap into the substantial equity of their home, if needed.[/quote]

Or they need to move out and move on.  Oldsters tend to be the NIMBYs who don’t want any change.  They hoard their houses as they age in place which keep prices high for people who are looking for homes.  Young people want smart geothermal, density, great restaurants and a vibrant DC - not tired places serving the ‘5 o’clock special’ crowd.  Come to think of it, “aging in place” is a good description of much of DC.  That needs to change.[/quote]

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