How to improve the housing market in Nevada County is the topic of an economic session being hosted by the Association of Realtors Wednesday afternoon. The Association’s Governmental Affairs Director, Dan Sharp, says an economist with the State Association, Oscar Wei, will have projections on the market in the coming years. Sharp says the chronic lack of moderate-income housing continues to be the main challenge…
And Sharp says with more people working locally but living elsewhere, that means fewer are shopping locally, which hurts sales tax revenue. He says Wei will also talk about the implementation of Proposition 90, as a partial solution. The initiative allows homeowners 55 and older to transfer the base year value of their principal home in one county to a newly-purchased home in another county, to negate an increase in property taxes…
Sharp says the complicated and expensive permitting process in Nevada County also discourages residential development.
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