Large tax bills coming for downtown residents. Will they stay?

[Shai_Hulud]

Condescending much? Again, it doesn't matter if you work for one of the companies that offers these incentives [[which I do), if you were already a resident before the program started, you don't qualify for most if not all of these programs.

I investigated Live Downtown fairly thoroughly and was never told that being an existing resident disqualified you. If you move from outside the boundary to in, you can get the incentive. Whether you move from the westside or from Novi is immaterial.

I seem to be missing the problem.

If the market dictates rent increases and occupancy can remain at north of 80% levels by charging 300% more than before, we have new people living there with more disposable income who expend more on purchasing power and employ more Detroiters than the prior residents.

We should be cheering them on to victory.

Clearly,

We aren't talking about market forces. We are talking about market manipulation by the city and to a lesser extent, private companies. The city's efforts being especially ham-fisted.

The pile of cash on the table for NEZ residents came from the rest of the Detroiters who were actually paying property taxes. Because the pile was so big, when it goes away there will likely be falling demand, coupled with rising rents and falling home value that could undue part of the progress made.