The $100,000 hidden tax on every home — and how to kill it

Originally published by Washington Examiner.

Americans know all too well the taxes they pay: federal taxes, state taxes, local taxes, sales taxes, and even property taxes. But there is one more tax that has snuck its way into the cost of every home purchase yet never appears on any bill. It is the cost of every zoning restriction, permitting delay, design mandate, and approval process that made your home more expensive to build, and every dollar of that cost is passed straight to you. It is a bureaucrat tax, and it may be the most expensive tax you will ever pay. 

The White House’s Economic Report of the President, released this month, has quantified the burdensome bureaucrat tax at approximately $100,000 in additional costs added to every home. This tax quantifies restrictive local zoning, lengthy permitting times, and generally, difficult construction processes, and is the primary driver of housing unaffordability.

Housing consumes 30%-40% of a family’s budget, and for most families, it represents a tested path toward financial stability and wealth creation. Unfortunately, the previous administration’s rampant spending and overregulation caused record inflation, surpassing 9%. Costs jumped up; mortgage rates effectively doubled; Americans paid the price.

To read the full article, click here.