Uh, more like longtime property owning San Franciscans used a regressive tax subsidy to shift housing burden to young people & the poor.https://twitter.com/CurbedSF/status/804158085338001408 …
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owners basically get to capture all financial upside w/ capped taxes, so it incentivizes foreign capital to park here
If anything capping tax increases in existing properties should incentivize new developments...
no it doesn't bc the majority of voters have the tax caps and are insulated from the effect of Chronic shortage
I'm no expert in this but surely there are other tax income sources to cover those expenses.
Taking out taxes from capital gains doesn't help if you're forced to sell in the first place bc of taxes.
Also taxes in new houses reflect the current market which more than cover for public services.
... because taxes from existing ones are lower.
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