Stephen Farnsworth at the University of Mary Washington says opponents argue the amendment forces people who don’t own, or could never afford to own, waterfront property to pay a kind of flood insurance for those who do.
“The idea that folks who have really valuable waterfront property should somehow get additional tax breaks for the benefit that a lot of people can’t afford doesn’t strike me as particularly appealing to the vast majority of voters in Virginia,” Farnsworth says.
Link to report Help Adapting to Sea Level Rise or Tax Break for the Wealthy? (WVTF)
Stephen Farnsworth at the University of Mary Washington says opponents argue the amendment forces people who don’t own, or could never afford to own, waterfront property to pay a kind of flood insurance for those who do.
“The idea that folks who have really valuable waterfront property should somehow get additional tax breaks for the benefit that a lot of people can’t afford doesn’t strike me as particularly appealing to the vast majority of voters in Virginia,” Farnsworth says.
Link to report 