If you really want to make housing affordable, outlaw property taxes. Yeah, yeah. I know. That's just crazy talk.
Property tax is awful here in Texas. Want a nice place, a few acres and a house? Expect to pay from three to five hundred a month in tax. And that will not go down, rather, it will go up as valuation increases. And continue forever...
Not crazy at all. Given a choice, most citizens would abolish property tax. The fact is that the entities that benefit from property taxes (schools, county, & local govt, etc) hold greater power over our legislators than the broad constituency. There is no such thing as home ownership so long as the government can impose property tax and can sell your home if you fail to pay.
At least one Republican governor (DeSantis) is proposing this.
I think it’s an excellent idea, certainly for seniors, who are on fixed incomes but are being taxed out of their homes as property values increase.
I live in Minnesota, so that or any other tax reduction is a fantasy.