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b00gerbear OP t1_ir9u0mt wrote

TDLR: $19 million in free cash and an additional $2.5 million from a reserve fund is going to be used to decrease property tax collection in 7-1 City Council vote. Opponents argue money could be used for more important things - universal pre-k, affordable housing, rent relief

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nattarbox t1_ira3e1b wrote

We already have the cheapest property taxes in the metro by a lot, so can kinda see the opponents side.

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adtechperson t1_irbe4nj wrote

I rather hate this way of phrasing the argument. Basically, every town and city does this. Free cash represents money that was allocated but not spent. And it is typically used against the next years budget.

If we want rental relief, that should just be put in the budget at whatever level is appropriate and funded the way we fund all other budget items.

Basically, we should include in the budget all the items that are desired (affordable house, pre-k, rent relief, whatever) and separate that from the source of funds.

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AMWJ t1_ira38i5 wrote

Do you know if this includes landlords/those who rent their properties?

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nattarbox t1_ira3h3z wrote

It only applies to people who occupy their primary residence, so no.

see below

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[deleted] t1_ira473h wrote

[deleted]

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nattarbox t1_irab1p2 wrote

oh whack :(

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IamUnamused t1_iray36x wrote

any property tax increases, I generally need to pass on at some point in the form of increased rent. While I haven't increased the rent on my property in a couple years, if/when property taxes go up, eventually the rent would. This at least enables me to put that off for a couple more years. So, there's that.

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crazicus t1_irbeg9c wrote

It would be far more effective to just pay that money out to the renters directly then than the property owners

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