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[Music] Im here to talk to you today about something with a very complicated name that is actually quite simple government property lease excise tax orgy play this term often comes up in relation to new developments in short g-flat is a tax break for developers used to encourage them to build in our cities governments own the land and pay no taxes on it they lease the land to the developer and by doing so cut the property taxes of that developer these tax breaks last decades Tempe and Phoenix use this tax incentive frequently but it never seems to benefit the people already living in the city luxury commercial and residential developments are the biggest beneficiaries they dont pay their fair share in taxes sticking us with the tax bill rents are artificially inflated as new luxury developments are constructed working families are displaced from their neighborhoods and with the rush of nearby multi-housing communities to move themselves into the luxury bracket most renters must cho
