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California Spends $6.5 Billion on Homeowner Subsidies, 15 Times Less on Renters

A new report from the California Housing Partnership "revealed a wide gap between state support for homeowners and renters."
March 12, 2018, 9am PDT | Katharine Jose
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In the middle of a housing crisis, a nonprofit in California reports that while state property tax deductions add up to $6.5 billion for homeowners, "[s]tate support for renters, however, was limited to a couple hundred million dollars for a $60 annual tax credit for low-income renters and state tax credits for developers to help finance low-income rental projects." 

And while subsidies for renters are going to double in 2019, spending on homeowners will also increase. The result is "that next year, the state will spend $929 per household on homeowner subsidies compared to $71 per renter household." 


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Published on Tuesday, March 6, 2018 in Los Angeles Times
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