phantom tollbooths in Davis Sq. ...

[an-art-worker.livejournal.com]

apropos of nothing and not a serious proposal but I was thinking about sales taxes last night, the discussion of tolls on 93 south and something to do with all the border violence going on in the world these days. Suddenly I had this image of tollbooths/checkpoints on the roads entering Davis Sq. Weird but interesting to speculate on.

The growth in popularity of the sq. has brought higher rents and housing prices, higher prices in stores and bars and general gentrification. The city of Somerville and the property owners benefit but the residents don't. Would be interesting to have a toll that went to offset the costs of gentrification to people who actually live here.

Comments

[surrealestate.livejournal.com]

Generally speaking, I agree with you, in that the added value, especially if someone's home is basically their only asset, can be detrimental because of the increase in taxes. It comes in handy most when it's time to sell and other than that doesn't matter much.

Unless the place is also an income property. If someone is in your situation and also has a rental unit, then having the area be more desirable makes a big difference, as the rent you can charge is considerably higher than if your house was in, say, East Somerville.

With a multi-family you also have the option of condo-izing and selling off the other unit, (again, for a far higher price than in other areas) without having to pull up roots or move.