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Two issues that seem to generate endless controversy in our valley are the need to create affordable housing and lower property taxes. While many suggestions on solving these problems seem to conflict (government spending to build affordable housing versus lowering taxes and reducing government spending) I would like to offer a simple solution to solve both problems simultaneously. Surely taxpayers with common sense understand it’s easier to take personal action than to change the policies of more than 70 taxing entities.
To both lower your property taxes and create “affordable” housing, simply place a binding deed restriction on your home establishing its value as the price you paid for it (plus inflation and transaction costs if you like). Don’t worry about the government hurting from a drop in tax revenue; there are undoubtedly plenty of people who would rather continue to complain about higher taxes and enjoy a higher resale value. As the old saying goes, they want their cake and to eat it, too.
To both lower your property taxes and create “affordable” housing, simply place a binding deed restriction on your home establishing its value as the price you paid for it (plus inflation and transaction costs if you like). Don’t worry about the government hurting from a drop in tax revenue; there are undoubtedly plenty of people who would rather continue to complain about higher taxes and enjoy a higher resale value. As the old saying goes, they want their cake and to eat it, too.
