"We find that, before adjusting for these factors, our choice of tax rates and brackets could raise almost exactly $500 million from a little over 11,200 properties. However, revenues could be reduced to between roughly $340 million and $380 million based on assumptions on exclusions for rented units and behavioral changes following the imposition of the tax."

It's all media feel goodsies but not actually do anything substantive.

free_bip 2 hours ago | parent | next [-]

So it'll still raise at least 300 million? Sounds like a great thing to me. I dunno why you think it doesn't matter.

	▲	0cf8612b2e1e an hour ago \| parent [-]
		Unlocking extra housing is the real boon, the tax revenue is the bonus.

▲

jonfw 2 hours ago | parent | prev [-]

I think that this has the benefit of both raising a non trivial amount of money as well as reducing housing demand from the wealthy in a supply constrained market