HomeMy WebLinkAbout10-21-19 Public Comment - K. Silvestri - Community Housing Action PlanFrom:agenda@bozeman.net
To:Agenda
Subject:Thank you for your public comment.
Date:Monday, October 21, 2019 5:46:16 PM
A new entry to a form/survey has been submitted.
Form Name:Public Comment Form
Date & Time:10/21/2019 5:46 PM
Response #:295
Submitter ID:21360
IP address:69.144.37.187
Time to complete:19 min. , 17 sec.
Survey Details
Page 1
Public comment may be submitted via the form below, or by any of the following options.
Public comment may also be given at any public meeting.
Email:
agenda@bozeman.net
Mail to:
Attn: City Commission
PO Box 1230
Bozeman, MT 59771
In-person delivery to:
Attn: City Commission
City Clerk's Office
City Hall, Suite 202
121 N. Rouse Ave.
Bozeman, MT
First Name Ken
Last Name Silvestri
Email Address kenneth.silvestri.bzn@gmail.com
Phone Number 928-607-0816
Comments
Hello City Commission,
I would urge an addition to the Community Housing Action Plan that imposes a steep tax on people who
purchase secondary homes here in Bozeman as vacation homes or investment properties. From my initial
reading of the plan, I do not see that this option was explored or analyzed.
This would serve two purposes:
(1) Help existing homeowners and middle income families with competing against Wall Street investment
firms who snatch up properties with cash, wealthy parents of MSU students from out of state who
purchase much of the existing affordable housing for their children while they attend MSU, and people who
benefit from high wages and wealth accumulation that exceeds the low, stagnant pay in Montana. This tax
could be 25% of the assessed value of the property and deter those from the outside from pricing middle
income and people who live here out.
(2) The money raised through this tax could be used to help fund some of the affordable housing initiatives
in the plan.
Another potential solution is a property tax break for families who are paying over 30% of their
recommended income on housing. The amount they are paying over that 30% threshold could be applied
to a property tax reduction, i.e. 35% equals a 5% reduction in property taxes. This may not be a huge
amount but even $20 of the monthly mortgage payment can help these families. This reduction in revenue
could also be offset by the 25% tax on secondary homes or investment properties.
I see a lot being asked of the public sector, non-profits, and local taxpayers in this plan to pay for this, with
not much being asked of builders, mortgage companies, and wealthy groups and interests who are able to
apply their capital here in ways that disadvantage middle income families.
Thank you for your consideration and this opportunity to offer feedback on the plan.
Respectfully,
Ken Silvestri
If you would like to submit additional documents (.pdf, .doc, .docx, .xls, .xlsx, .gif, .jpg, .png, .rtf, .txt)
along with your comment, you may alternately address agenda@bozeman.net directly to ensure
receipt of all information.
Thank you,
City Of Bozeman
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