The number one contributor to the affordability problem is high property taxes which are then passed through to renters. Under Adler Austin has seen the highest tax increase in history. These taxes have crippled businesses, especially iconic restaurants such as Threadgill’s which is shutting down in a few months. Adler’s answer is to borrow more with a nearly billion dollar bond proposal that will send property taxes through the roof. I propose a 20% homestead property tax exemption immediately. Adler promised this, but never delivered. I also believe that we should never tax beyond the effective rate and cut spending where we can. I also support proposition K which calls for an internal audit to find wasteful spending. This type of audit has been implemented in other cities and has resulted in savings of 10% which in Austin amounts to roughly 400 million dollars