SANTA FE, N.M. (AP) — Voters have approved a tax on mansions to pay for affordable housing initiatives in New Mexico's capital city of Santa Fe. Uncertified ...
SANTA FE, N.M. — Voters have approved a tax on mansions to pay for affordable housing initiatives in New Mexico's capital city of Santa Fe.
“It's just exactly in the nexus of what matters,” said Romero, a Democrat who led a fundraising and educational effort in support of the tax. “Truly, we're in a crisis.” The city of Santa Fe estimates that the tax would generate about $6 million annually for its affordable housing trust fund, which underwrites price-restricted housing, down-payment assistance for low-income homebuyers and rental assistance to stave off financial hardship and evictions. The trust awards funds each year to affordable housing providers who can secure matching funds from other government and nonprofit sources.
Meanwhile, more than 400 single family homes sold for more than $1 million across Santa Fe in 2022, according to a city-commissioned analysis. “We're just validating that they have the legal right to do this,” he said. “Ultimately it needs to go to the state level to adjust the state statutes, if that's what the voters want.” -- France’s economy is set to maintain slight growth in the final quarter of the year, dodging a contraction that has already hit the euro area as a whole, according to a survey by the country’s central bank.
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