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What you've said is true, but misses the point. Office buildings don't require schools in the same way houses do. Look at the development in Palo Alto over the
by bhickey 11y ago
What you've said is true, but misses the point. Office buildings don't require schools in the same way houses do. Look at the development in Palo Alto over the last ten years. It's largely commercial and this isn't an accident.
- simoncion 11y agoI'm afraid you've missed the point. :) Prop 13 caps the rate of property tax increase... only if there is either no new development on a property, or if the property changes hands in one of the ways that triggers the property valuation reassessment. A city should be strongly encouraging the periodic demolition and/or radical improvement of existing structures... whether they be commercial or residential. New construction and new improvements get taxed at their "market rate" valuation. Given how insane prices are in the area (and how very, very little teachers make), I find it hard to believe that tax revenues from new construction wouldn't cover the costs required to support new families. > Look at the development in Palo Alto over the last ten years. It's largely commercial and this isn't an accident. coughredliningcough :)