CBS 8: Affordable housing could mean higher property taxes

CBS 8: Affordable housing could mean higher property taxes
February 8, 2018 Peter

A San Diego City Council committee Thursday advanced a proposed ballot measure that would provide $900 million for affordable housing projects through a property tax increase. The committee voted to direct City Attorney Mara Elliott to draw up the measure to fund 5,000 to 10,000 units of housing, split equally among the following categories: permanent supportive housing for the homeless, units for seniors and veterans at risk of becoming homeless, and homes for low-income families. On average, property owners would see their tax bills go up $19 per $100,000 of assessed value, according to the San Diego Housing Federation, which proposed putting a ballot measure before voters. Councilman Mark Kersey cast the lone vote against the proposal at Wednesday’s meeting of the Rules Committee. Stephen Russell, executive director of the Housing Federation, said San Diego is one of the only major California cities that has not passed such a program, which allows municipalities to receive matching state and federal grants and therefore reap the full benefits of public funds available to address housing affordability.

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