I asked a dozen of the most policy-minded critics of the "mansion exemption" for alternative ways of spending approximately $30 million annually to boost Austin's affordability. Here are the four main themes that came across in their responses.
There are better tools to solve the 'affordability' problem than a 20% homestead exemption (HEx). Here's what progressive, fiscally-responsible Austinites must argue.
"It's just a tax cut for mansions."
The benefits of a percentage-based homestead exemption disproportionately flow to those with the most property wealth and income. The chart below …
[MORE]Adoption of a 20% homestead exemption (HEx) would shift City taxation away from affluent, low-density Council districts towards the middle-class and Latino neighborhoods.
The following visualizations compare each district's share of tax cuts/revenue loss against several demographic factors. The tax data sources are TCAD & WCAD files analyzed by Dylan …
[MORE]A City of Austin 20% homestead exemption is a tax shift policy that is likely to get a lot of attention from the incoming City Council. Here's what you need to know.
1. What is it exactly?
The 20% homestead exemption (HEx) reduces the assessed value of one's primary residence …
[MORE]A homestead exemption based on a fixed percent of home value is a regressive and ineffective affordability policy. It engenders a permanent loss of much-needed revenue for public investments. Spending directly on policies that promote abundant housing supply is an effective, progressive alternative. Said progressive alternative targets the actual problem …
[MORE]