Genuinely confused. Wouldn't new houses start off paying high rates? Why isn't new development marginally cashflow positive for the city?
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In the beginning, slightly (and more so if you get to above 40 units per acre). But over time the revenue doesn't keep up w cost of services
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Lack of undeveloped land + zoning limits residential development, not tax system
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Something has to make up for the fact that old people with $2M homes don't pay anything in property taxes.https://twitter.com/kimmaicutler/status/905939077891055616 …
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....and then we subsidize the transportation upgrades & long commutes created... NIMBYs incentivized w rapid appreciation paybacks TY CEQA.
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We need more schools, more teachers, more police, andmore fire stations before new housing can come in.
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