3 ms·

I don't think the people railing against prop 13 have ever lived in states where property tax rates are out of control to the point the people lose their homes.

• ZeroGravitas 11y ago
  Do they lose their house in the sense of selling it at a massive profit? Or are the taxes rising irrespective of property prices?
  • dv_dt 11y ago
    I'm not sure what it used to look like in CA pre prop 13, but I get the sense that many people lose homes due to even fairly short periods of cashflow problems, leading to tax leins leading to forclosure (and possible loss of much more equity): http://money.cnn.com/2012/07/10/real_estate/tax-liens/ http://money.cnn.com/2012/07/10/real_estate/tax-liens/ Seniors in those kind of conditions, would be unlikely do better selling off their homes and subject themselves to a more volatile rent for their homes.. which would likely lead to even higher societal financial supports needed so seniors don't end up on the street.