Call out the latest idea in Springfield for what it is – another property tax hike. Lawmakers want to create yet another tax break for some, which everybody else would have to pay for.
Two bills, SB 2259 and HB 2168, pending in Springfield would impose property tax caps or assessment reductions for affordable housing.
In other words, they would give a property tax break to owners of apartments for lower income renters. The problem is that the levy – the total amounts collected by each taxing authority – wouldn’t change. That means all other property owners pay the difference. The end result is simple and undeniable: Property owners would fund a special subsidy for affordable housing.
Read more in Wirepoints' story here.
