Buy custom Gentrification is not Beneficial to Established Residents
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| Topic: |
English
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| Number of pages / Number of words: |
4 / 944 |
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There are billboards and signs plastered all over the neighborhoods proclaiming, "I pay cash for your home" and "I buy ugly homes." With no other options in site, these individuals are selling their homes to the cash buyers only to find out that they can no longer afford a house in their old neighborhood...
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Thus, their only alternative is to move to more affordable areas outside of Austin.
Another cause of the swelling property taxes is a "historic home" tax exemption. If someone's home meets the criteria of a "historic" house, the property value automatically increases. Not only does the value of the owner's home go up, he or she also has a lifetime property tax exemption...
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