On January 10, 2022, City Council has agendized an action item to consider a new mechanism for creating “affordable and workforce housing” — and the funding will come from annually taxing your parcel of land. So, homeowners, apartment owners, and commercial property owners would incur more annual tax to pay for this project.
There are many grant programs that the City could pursue as funding sources. There might even be money hiding in places that we don’t often consider. We could use a third-party analyst to help us go line by line with the City budget and find revenue sources. How many tax dollars already collected are we spending on bonus items like travel or food?
So far, the only idea proposed to fund affordable housing is to tax property owners. It’s not very creative and we should ask the City to find other financial instruments. Read on for more information, and please attend the meeting: