I support them because they are progressive. I would prefer a set amount (like the senior and disabled exemption) instead of a percentage-based exemption, since the percentage-based exemption is the least progressive exemption. Still, the tax incidence study that I performed on the homestead exemption indicated that the benefit to the lowest-income quintile of homeowners is four times greater than the benefit to the highest-income quintile.
We don’t have many tools to help homeowners, and many homeowners are not wealthy. We need different tools for everyone in the community. We can’t just grant the homestead exemption while denying entitlements that would add to supply and thus help ease rent increases or help increase concessions from landlords (effectively dropping rents).