Prevent Displacement Due to Gentrification Through Property Tax Reform

Copyright
2021
Published By
Well Being In the Nation Network

Gentrification occurs in lower-income neighborhoods where property values are low. People who have not lived in that area move there because property values are low. Then the property values increase, as more and more new residents can afford to buy properties. As property values rise, property taxes increase. People who have lived there for a long time have to move out because they can't afford their property taxes. Governments can put sliding scales or other limits on property taxes, to allow low-income residents to stay in their homes. At the same time, capping property taxes can be a problem, since higher-income residents should pay their fare share.

Resources & Tools

Tax and Regulatory Reform Policy Guide graphic featuring image with tax forms
Tax and Regulatory Reform Policy Guide
Resource - Guide/handbook
Published on 04/20/2021
Cover page of A Municipal Policy Blueprint for a More Inclusive Path to Prosperity
A Municipal Policy Blueprint for a More Inclusive Path to Prosperity
Resource - Guide/handbook
Screen grab of State Low-Income Tax Relief in the Absence of an Income Tax
State Low-Income Tax Relief in the Absence of an Income Tax
Resource - Website/webpage
Screen grab of Property Taxes
Property Taxes
Resource - Website/webpage

Data & Metrics

Advancing Equitable Economies Policy Library logo
Advancing Equitable Economies Policy Library
Library
Published on 04/20/2021