Dear Editor,
I really feel pain for all those people who complain about increased property taxes for their detached homes.
I have a solution.
As a young millenial, I won’t ever be able to afford a detached house — even if I was earning more than $100k/year. So, my suggestion, I’ll pay their property taxes, if they sell me their property for the price it would have sold at in 2005 or 2010.
Everyone wants tax-free profit and appreciation in their assets when they or their family sells property, but they don’t want to pay their fair share of property taxes, which support community services, while they live there.
The owners who can’t pay their property taxes and want to lock in their rates, they can sign an agreement with the government that states they will sell their property at the price which it’s tax is locked in at and put the rest of the profit into a fund that supports affordable housing for the next generation.
This is the best kind of charity they could provide for the next generation.
Arvind Sharma
Richmond
