Jesse Jarnow

the gentrification tax

A reasonable/utopian proposal to rebalance the cultural ecosystem.

If it can be proved that:

1.) In a neighborhood…
a.) …there has been a recent boom in high-value residential real estate…
b.) …the average rent for a commercial property has increased.

2.) An institution in that neighborhood…
a.) …is of cultural value…
b.) …has been open for five years or longer…
c.) …was able to operate at the original rent…
d.) …cannot viably function under the new rent.

Then:
The neighborhood’s new residents should be made to pay a Gentrification Tax to cover the difference between the institution’s original rent and the current market value of the property, as well as any attendant costs for the legal enforcement of the law.

1 Comment

  1. Michael Slaboch says: - reply

    I Dig!