@kimmaicutler Developers making a killing right now. Fees are not current disincentive. If they start selling hula hoops instead--take note.
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@papadooloo developers generally aim to make 15-20% return. Property owners have had 4-5X that rate of return in last few years - 1 more reply
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@benhuh than asking existing property owners, who already enjoy 15-20% YOY gains in price appreciation, to pay more. -
@kimmaicutler@benhuh that cannot be done-- Prop 13 prevents it - 2 more replies
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@benhuh@tmccormick@kimmaicutler in Hong Kong there's transfer taxes on purchases and leases -
@ulysseas@benhuh@tmccormick hasn't really solved HK's issues. ;-) - 3 more replies
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@benhuh so instead they resort to tacking on fees. And tacking on fees for new housing units or people who don't already live here is easierThanks. Twitter will use this to make your timeline better. UndoUndo
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@benhuh well, California has no maneuvering room because cities can't unilaterally raise taxes w/ out supermajority vote. -
@kimmaicutler@benhuh there is no income tax in SF, which is mind-boggling. This childcare initiative needs to happen.Too bad it's via fees.
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@kimmaicutler new fee is feasible based on TSF study-$1.83 for projects containing 10 or more units and $0.91 for projects of up to 9 -
@MenakaM I think fees are fine as a tool of last resort. I'm just pointing out the absurd contradictions, inefficiencies of them.
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