The so called "solve the housing problem" people state that the MFTE will increase housing availability for those that need housing.
There are some important points to acknowledge:
1. Tax breaks for builders and owners provides little affordable housing.
2. Tax breaks for builders does not reduce rents because rents are just as high as the market. The MFTE allows the builders and owners to pocket the high rent AND get the tax deduction.
3. All other renters and owners have to make up in taxes what other people don't pay in taxes to pay forcity police, schools, parks, fire protection, city employee health care, city employee retirement plansand city transportation costs. The MFTE tax reduction is the Grinch that makes rental housing more expensive for those 51% that rent in the City of Olympia.
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