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They are responding to incentives. If they had to pay the property taxes that prop 13 protects them from, they would start to self-modulate and allow things to
by mahyarm 10y ago
They are responding to incentives. If they had to pay the property taxes that prop 13 protects them from, they would start to self-modulate and allow things to reduce their house assessment value.
- rtpg 10y agothe thing I don't get: wouldn't subway lines increase house value? In Tokyo, being a 3 minute walk from a train/subway station easily adds a couple percent in housing value.
- liotier 10y ago> In Tokyo, being a 3 minute walk from a train/subway station easily adds a couple percent in housing value. "Couple percent" ? More than that - from what I saw in most large cities, home value is pretty much directly proportional to distance from railbound mass transportation nodes.