alt Hacker NewsYour coop building is on the unfair side of the "eclectic sometimes regressive" property tax calculation the parent comment mentions. Large (10+) multi-family rental properties are taxed at a much higher rate than single-family and 2-4 family properties. Correcting this imbalance would lower property taxes on your coop building while still raising overall tax revenue for the city.
We have 36 units in our coop iirc, so we are “large”. Generally I think our taxes are fairly reasonable. I just don’t think there is any reasonable solution here that isnt focused on a simple triangle:
- Build more, destroy short term value of existing owners
- Lower taxes, hurt short term city functioning
- Lower interest rates, drive up inflation
The only “fun” solution IMO is cut taxes and cut jobs programs that don’t deliver city value. DOE is a welfare scheme at this point.