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> The key change that is needed is that instead of limiting the amount of property taxes, we need to limit the tax payments only. I think the key change that i
by vonmoltke 10y ago
> The key change that is needed is that instead of limiting the amount of property taxes, we need to limit the tax payments only.
I think the key change that is needed is to make Prop. 13 apply only to owner-occupied residential properties. Applying it to all real estate was a horrible mistake.
- Cerium 10y agoSpot on. Individuals need to be protected from loosing their home. Businesses (even individual run businesses) should be fairly competing against current market values.
- prostoalex 10y agoSome businesses add significant value, and they're aware of it. Whenever Whole Foods, Costco or even Walmart moves into a commercial plaza, the business activity around that area gets a significant boost from all of the foot traffic and destination shopping. Restaurants, gas stations and other big-box stores try to locate nearby to capture a chunk of that activity. If you penalize Costco or Wal-Mart by taxing them on the land value that they themselves appreciated and make them the victims of their own success, they will move to the next closest town that will guarantee some tax breaks, and perhaps you as a city official can then extract property tax from a parking lot with a bunch of "for lease" signs and a pop-up Halloween costumes store.
- ScottBurson 10y agoYes, that too. I completely agree. This might be politically easier, too, than what I'm proposing. Prop. 13 was sold, in part, with a promise that landlords would pass their savings along to renters. That was a stupid promise to make and was never going to happen; rents are set by the market, period.