“Yes for Homes” Coalition Hails Passage of Affordable Housing Ordinance, Announces Campaign
Local housing activists are hailing the passage of a San Juan County ordinance meant to tackle the County’s growing affordable housing crisis.
On Tuesday, the San Juan County Council unanimously approved Ordinance 11-2018. The Ordinance authorizes the County to collect a one-half of one percent (0.5%) real estate excise tax (REET) on the sale of real property. The initiative was crafted after years of work by elected officials, community leaders, and small businesses across the County. The measure is not a property tax, reflecting the Coalition’s goal to avoid financial burden on homeowners with fixed incomes.
“This is an incredibly exciting moment,” said Mallory Hagel, a spokesperson for the Yes for Homes San Juan County coalition. “We’re proud that our County Council recognizes the need to keep vulnerable families in safe, affordable housing.”
The move comes after years of booming property values in the County. The median home value in San Juan County is now approaching $600,000, a figure that has increased 8.2% over the past year, according to real estate analysts at Zillow. With a tight rental market, local affordable housing experts are concerned about insufficient workforce housing. Populations especially at-risk for displacement include service industry workers, healthcare providers, educators, and those on fixed incomes. Continue Reading