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The Independent UK
The Independent UK
National
Morgan Lee

Santa Fe considers tax on mansions as housing prices soar

Copyright 2023 The Associated Press. All rights reserved.

Voters are deciding whether to tax mansions to pay for affordable housing initiatives in a state capital city prized for its desert-mountain vistas, vibrant arts scene and stucco architecture rooted in Native American and Spanish-colonial tradition.

The tax on homes sold for more than $1 million is being pitched as a lifeline to teachers, service-sector workers, single parents and young professionals who can't afford local mortgages or struggle to pay rent amid a national housing shortage and the arrival in Santa Fe of high-income digital nomads and affluent retirees.

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