2 ms·
Prop 13 favors current homeowners at the expense of future homeowners. This NIMBY-written FAQ[0] exposes the structural unfairness pretty well. And yes, proper
by bufordsharkley 10y ago
Prop 13 favors current homeowners at the expense of future homeowners. This NIMBY-written FAQ[0] exposes the structural unfairness pretty well.
And yes, property taxes are an ideal way to pay for local infrastructure, and California is suffering the consequences of defunding this.
[0] http://www.hjta.org/propositions/proposition-13/what-do-you-tell-new-neighbor-about-proposition-13/ http://www.hjta.org/propositions/proposition-13/what-do-you-...
- Gibbon1 10y agoI tend to think that cost of a house is the carrying costs, mortgages, interest, maintenance, taxes. In a built up area, carrying costs are determined by what the local economy will support. Reducing property taxes just drives up the price and thus mortgage payments. Difference is property taxes tend to pay for local services and infrastructure that increase the real value of a home. Where mortgage and interest paid flee to places elsewhere.