New Yimby bill would make it harder for cities to raise money for affordabe housing

New Yimby bill would make it harder for cities to raise money for affordabe housing

The Yimby movement is backing a bill in the state Legislature that would make it more difficult for local government to raise real-estate transfer taxes—a key source of revenue for affordable housing. AB 698, by Assemblymember Buffy Wicks of Berkeley, would do exactly what the Yimbys and their allies complain about: Add a “constraint” to passing taxes on high-end real-estate transactions. Transfer taxes are fees collected by local government bas…