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Resident warns property‑tax funding for proposed $118M capital package could hurt housing affordability
Summary
A resident urged council to fund proposed capital projects with sales tax rather than property tax, saying property‑tax increases would raise escrow and mortgage costs and disproportionately harm first‑time buyers, renters and seniors.
Roy Johnson, a Lafayette resident, used public input on Aug. 5 to urge council to place proposed capital improvement projects on the ballot funded by sales tax rather than property tax.
Johnson said council had not finalized the ballot language for an approximately $118 million package and warned that property‑tax increases would increase monthly PITI (principal, interest, taxes and insurance) and limit potential homebuyers’ ability to qualify for mortgages on debt‑to‑income tests. He cited press reporting and National Association of Realtors data showing rising escrow costs in Colorado and argued that property‑tax funding would likely be passed through to renters by landlords and would especially hurt seniors and first‑time buyers.
"Changing the funding to sales tax will improve the chances that they will pass and [is] more consistent to the principle of affordable housing," Johnson said, urging council to reconsider their current direction toward property tax funding.
Council did not change policy during the meeting; Johnson's comments were submitted as public input.
