Pat DiCarlo and Concerned Citizens of Point Breeze: CHECKMATE.

[ArcticSplash]

Darrell Clarke introduces the Gentrification Protection Plan:

Tax bill has Fumo stamp

[the mule]

That is great. First because it takes ammo away from those ridiculous groups, and second, and more importantly, because it allows responsible home owners to reap the benefits of improving neighborhoods. I often talk to long term residents in transitional neighborhoods and they are largely supportive of development and the reduction of blight around them, but the specter of increasing taxes is the one factor that dampens their enthusiasm.

The means based adjustment would make a lot more sense if it gets added in. There are plenty of high income earners that would qualify as 10 year residents of gentrifying neighborhoods who shouldn't be exempted from AVI based property taxes just because they got in early. Their reward for getting in early is the dramatic increase in their property value - they don't need reductions in the accompanying tax burden.

[seand]

The devil is in the details - what is the exact cut off, how does it shift projected revenue, etc.

Also the means based part requires passage at the state level. How likely is that to happen if its not bundled with something else?

Inquiring minds want to know.

[OffenseTaken]

Has Clarke explained whose taxes would be raised to make up for this? I'm sure we can assume he's not calling for commensurate spending cuts—perish the thought.

The bill probably won't take much wind out of the Concerned Citizens' sails. The only support they'll lose is from the few people naïve enough to believe that the fight was economic, rather than racial, in the first place. But it will make them look even more like fools, so props to Clarke.

[eaphilly]

What you need to do is take a dedicated percentage of the property tax revenue generated by new development in the neighborhood and use that to offer Property tax credits to long time residents. That way new development creates lower property tax bills for longtime residents. This way you get neighbors invested in attracting new development to their neighborhoods.