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I just read a report that SC’s cities can now use up to 15% of tourism H tax dollars for affordable housing for those making 30 to 120 percent of the local median income. Funds can be used for rental housing, but they must also be used on home ownership programs. It’s in The Post and Courier. The governor signed it May 19th with broad support in the house and senate.
We could fix the "affordable housing" problem by imposing a huge impact fee on new people moving into South Carolina. Our dirt cheap primary residence property taxes are attracting hoards of people to move here and their presence doesn't generate enough tax revenue to pay for all the impact they has created. I'm not anti-growth, I'm pro-growth but we need a way to pay for it all.
Adding to the South Carolina Department of Employment and Workforce’s and the National Bureau of Labor Statistics’ analysis showing Charleston-North Charleston knocking it out of the park in jobs gains is this article from The Washington Post about metros that are dominating their states in economic growth, including Charleston.
We could fix the "affordable housing" problem by imposing a huge impact fee on new people moving into South Carolina. Our dirt cheap primary residence property taxes are attracting hoards of people to move here and their presence doesn't generate enough tax revenue to pay for all the impact they has created. I'm not anti-growth, I'm pro-growth but we need a way to pay for it all.
I don't think that on its own is the issue. When buying houses they are already resetting the clock on tax increase caps. And Fl, Tx, TN tend to attract more of that crowd based on no/low income taxes. Our big problem is milder winters and having much lower real estate costs than NY, NJ, Mass, DC, and the larger southern metros (Raleigh/Atlanta/etc.) We also have more cache- so someone buying a house 45 min from downtown can view it as moving to Charleston as opposed to some smaller city/exurb in another area.
Have often wondered about the small property on Spring Street downtown, between the Holiday Inn and Mc Donalds.
I remember a small restaurant being there years ago that I believe the city had condemned.
The SCOTUS won’t hear the SC governor’s appeal on the International Longshoremen’s operating Leatherman Terminal. It can open full throttle now.
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