Sacramento Mayor Kevin McCarty is proposing a property tax hike that will be used to finance new housing developments.
CBS News reports McCarty unveiled his plan during his first State of the City address on Monday. The mayor is proposing to enact a fee that will be paid on home sales in Sacramento, with the amount tied to the property’s value. The specific amount of the fee was not disclosed, but the mayor insisted it would only be on higher-priced homes, with the city using the revenue collected by this tax to finance the creation of new housing and fund down payment assistance programs for first-time homebuyers.
McCarty, who wants to see this proposal on the 2026 ballot, claimed this would offset federal funding cuts while addressing the deficit in the city’s general fund. A similar tax was approved by voters in 2020.
“I think that we need to address this to in order to make sure Sacramento grows and we can take care of our needs today and tomorrow,” he said.
Citizens already pay ridiculously high amounts of taxes. We need to see where every penny of hard earned money goes. Till then they will keep robbing us blind and leave us teetering for basic necessities and survival.
LOL, who votes for these communists? Property taxes need to be eliminated along with 80% of government. Liberals see government as their charity with unlimited forced donations.
Most California redistribution of income via higher priced home sale. The state and local governments of California already are taxing these poor people to death. If rising incomes and higher property prices that both lead to the government collecting more taxes isn’t enough then they shouldn’t add any new programs. More taxes and more spending. This scenario is way beyond rationality in the state of California.