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>The proposition decreased property taxes by assessing property values at their 1975 value and restricted annual increases of assessed value of real property to
by wrong_variable 10y ago
>The proposition decreased property taxes by assessing property values at their 1975 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2% per year.
Sounds pretty insane.
- clock_tower 10y agoThis is why you don't really want to live under a democracy (always assuming you can find a non-democracy that respects human rights). California's government-by-referendum has made it impossibly dysfunctional, because the populace consistently votes for two types of referendum: "spend money on things I like" and "don't raise my taxes."
- seanp2k2 10y agoYeah, it's hard to argue that 20% yearly increases in SF rent are fine while property owners get limited to 2% .