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Lance,

Are you aware of basic economics? Prices in those historic districts go up because they are in demand and it is very difficult to add new supply. This is basic econ - if you artificially restrict supply, the price will go up.

And it doesn't necessarily mean more tax revenue to the District. The real winner for DC revenues is getting new residents paying income tax, not getting higher residential property tax assessments. You can't add new residents in those areas without adding new supply to the housing stock.

by Alex B. on May 1, 2011 12:16 pm • link • report

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