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Can you briefly explain prop 13? Thanks

• IDanceOnAPole 10y ago
  California's Prop 13 is basically eternal rent control for landlords.
• sidereal1 10y ago
  Increases to property tax are tightly capped. If housing prices skyrocket (which they have for a long time) the taxes on the houses barely rise at all. It highly encourages never selling property, and largely decouples property tax from the actual market price. All this results in a situation where the state with the biggest economy is constantly broke.