Quote:
Originally Posted by Keith P.
I don’t think any taxpayer would have a serious issue with a modest/CPI increase in taxes annually. When you are looking at people calling to eliminate the cap and phase in a tripling of tax burden even if it is over a few years, it is a bit much. I would absolutely support municipal spending controls, especially on staff salaries.
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I think eliminating the cap is probably the wrong answer, as it is too heavy of a change to levy even over a period of time, as you say. These runaway differences between assessed tax and actual value are largely a consequence of the runaway housing market. The delta wouldn't be severe if we'd experienced slow and steady growth over time.
That being said, the current solution where a family in their 30s who just moved to a neighborhood is paying twice or even more than twice as much property tax as a family who has lived there for 20+ years is at best unfair and at worst actively harming the next generation who is already systemically in dire straits as pertains to home ownership. Our society out not to subsidize the established/older at the cost of the younger/newcomer in quite so many ways.
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