DC Taxes Kill the American Dream
The DC Council talks a lot about how housing should be affordable, yet they have made the city much less affordable over the past few years as home assessments soared and the Council did not adjust the rate down.
As Chris pointed out, the city now has a $1.4 billion surplus. Much of that is from the increase in property values.
A cornerstone of the American dream is that if you can pay off your mortgage then you are all set for retirement. But the DC Council is standing between DC residents and the American dream. If my property taxes keep going up by 10% a year and assuming I never move and get dinged even more I will be paying North of $60K per year by the time I retire.
How the heck can anyone afford that?
As Chris pointed out, the city now has a $1.4 billion surplus. Much of that is from the increase in property values.
A cornerstone of the American dream is that if you can pay off your mortgage then you are all set for retirement. But the DC Council is standing between DC residents and the American dream. If my property taxes keep going up by 10% a year and assuming I never move and get dinged even more I will be paying North of $60K per year by the time I retire.
How the heck can anyone afford that?
posted by Leonardo at 7:58 PM
1 Comments:
Hey hey... welcome aboard Leonardo! Its good to have some company here!
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