Development That Safeguards Existing Dwellers

We've lived across the country over the last 30 years: the D.C. metro, Austin, Texas metro, Los Angeles, and St. Paul for 15 years. The pattern we see that sadly repeats over and over, is that in established neighborhoods, as the housing stock ages, developers come in to raze existing dwellings and build the biggest, most profitable replacement dwellings they can. The result of this turnover is that existing owners/dwellers begin to get priced out of their homes, due to subsequent ratched-up property values which raise property taxes. For example: we bought our house at the very end of 2013. In 2015, a double-lot a block and a half down from us was sold to a developer. That developer razed the existing house, divided the lot and built two $450K+ single-family homes on it. We paid less than half that sum for our house; but, our property taxes jumped up significantly in 2016 and beyond.

I'd like to see a rubric explored and executed that would guide planning and permits to gauge the effects on average property values/taxes in a zone/neighborhood before granting a go-ahead. If a developer or owner wants to do a project that will result in their property selling/being valued for more than say, 50% than surrounding dwellings/units within a defined area, then let's question whether this is healthy for the existing dwellers -- and, how to set guidelines and regulations to keep folks from becoming property-taxed out of their homes, especially as they age/retire.

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