The owners' commitment to include affordable units lasts only as long as the tax exemption -- 12 years. Articles about the Multi-Family Tax Exemption (MFTE) almost never include this fact, instead leading readers to think these income restrictions are permanent.
Also almost never mentioned is that taxpayers will see increases in their tax bills to pay the property taxes from which the MFTE exempts the owners.
And finally, such articles almost never give the actual income levels of people eligible for the affordable units. Just "percent of area median income" This doesn't tell us who we're increasing our taxes to help out.
Why are our media helping our public officials to obfuscate the actual impacts of their actions?
Bob Jacobs
Please explain the inappropriate content below.
