Chicagoist: Addressing Property Taxes And Gentrification Along The 606
media mentionMost gentrification narratives go vaguely like this: hipsters come to a neighborhood and open up fancy businesses and build fancy stuff and the original residents get pushed out. But often there is little focus on how exactly the original residents get pushed out.
Some policy institutes like The Institute on Taxation and Economic Policy consider most property taxes regressive, which means it puts relatively more burden on lower income people.