Quote:
Originally Posted by Bill14564
Are you sure of the $1B number? At $2,000 per year in property tax for a $385K home:
$1,000,000,000 / $2,000 = 500,000 homes
If the $1B comes over time then:
500,000 homes / 20 = 25,000 homes
That seems like a lot of growth and some optimistic projections.
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LOL, the only thing I'm sure of is that I'm never sure of anything :-)
I said tax
base.
4,000 homes @ $350K avg = $1.4 billion added to the tax
base.
Make sense?
I'll let you do the math for the incremental tax revenue.
BTW - Who pays only $2K a year in property tax here?
These younger buyers likely will not qualify for any exemptions so may be paying more than their fair share compared to a home bought 10yrs ago.