Property Tax
Question:
We pay exorbitant property tax…I have spoken about this with dozens of people…each one of them is weeping blood in the eyes and ears about property taxes. Because they have to sacrifice their lifestyle because Uncle sam wants yet another cut…Will property taxes be in your agenda in the future, if not now? -Anonymous, Dublin, CA
Answer:
Anonymous,
I know this is a big problem in our district. Increasing property values might be good for homeowners long-term, but steeply increasing values and property taxes can choke household finances. Slow and steady increases can also free up personal capital to diversify investments instead of being forced to sink everything into keeping a roof over your head. Tradeoffs.
Property tax rates & regulations are primarily state and local government issues. But here is where I can help as a member of US Congress:
The balance between housing supply and demand greatly impacts increases in property values and property taxes, as do local tax burdens to support education, law enforcement, healthcare, and social programs and infrastructure.
I will support loan programs to increase the number of residential housing builds. Catching up supply to demand will stabilize housing values and property taxes.
Massive illegal immigration will make our housing crisis worse. In 2020, we were about 4 million housing units short nationwide. It’s now over 7 million units. My zero illegal immigration policies will stop this trend (see main Issues Page). It will also reduce the coming increased local tax burdens for education, law enforcement, healthcare, and social programs. We’re already seeing a massive impact in big cities like New York, Chicago, and San Francisco. Soon those burdens will reach our district. It is not tenable.
The cost of housing is directly proportional to the cost of labor and building materials. I will support loan programs to train more people in the building trades - electrical, plumbing, carpentry — which will stabilize labor costs. If we don’t fix this pipeline, the housing shortage will only continue to grow.
I will continue to think on this issue, but I hope this helps you understand how I try to drill down to the most important factors behind a problem in order to solve it long-term. My analysis and solutions might not be entirely correct right away, but I will continue working until I find the most thoughtful path forward.
Question Submitted: 2/19/24
Answered: 2/23/24