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I see the author's point, but having lived in MA, which strives to keep assessed property values very accurate and very much in line with the market value, peop

I see the author's point, but having lived in MA, which strives to keep assessed property values very accurate and very much in line with the market value, people there were just as rabid about keeping out new development. Ultimately, any increase in property tax is offset 100-fold by increases in home value, and both are probably eclipsed by the emotional desire to live in "a nice neighborhood" In short, while I would fully support the repeal of Prop 13, I don't think it would suddenly result in an about-face on zoning policy to limit home price appreciation.

bufordsharkley 10y ago
Interesting point. Out of curiosity, what's the property tax rate in these communities?
- URSpider94 10y ago
  In Wellesley, MA, its 1.183% In Cambridge, MA, its .69 percent (down from .83 percent in 2015 !!!), with an exemption on the first $277,000 in value. These are communities with top-notch schools and amenities, and a state-wide income tax rate half that of California's.
- URSpider94 10y ago
  To elaborate ... MA is the the original home of direct democracy. Towns in the state hold annual town meetings, with a committee of the whole coming together to vote on key issues. In addition, they have a fair number of ballot referenda, but not as many as CA. MA has its own "Prop 2 1/2" which caps real estate taxes at 2.5% of assessed value, and limits annual increases in the total assessment to 2.5%. Quite literally, the cities and towns are continuously re-assessing their property base, and literally re-set the tax rate on an annual basis to deliver the revenue that they need to run the town. Thus, you see Cambridge's rate plunging by 25% year over year, presumably as property values on high-dollar properties have boomed. This gives lie to the idea that politicians would just take the increased taxes from higher property values as a windfall. In actuality, the tax burden is redistributed as real estate wealth is created.

bufordsharkley 10y ago

Interesting point. Out of curiosity, what's the property tax rate in these communities?

URSpider94 10y ago
In Wellesley, MA, its 1.183% In Cambridge, MA, its .69 percent (down from .83 percent in 2015 !!!), with an exemption on the first $277,000 in value. These are communities with top-notch schools and amenities, and a state-wide income tax rate half that of California's.
URSpider94 10y ago
To elaborate ... MA is the the original home of direct democracy. Towns in the state hold annual town meetings, with a committee of the whole coming together to vote on key issues. In addition, they have a fair number of ballot referenda, but not as many as CA. MA has its own "Prop 2 1/2" which caps real estate taxes at 2.5% of assessed value, and limits annual increases in the total assessment to 2.5%. Quite literally, the cities and towns are continuously re-assessing their property base, and literally re-set the tax rate on an annual basis to deliver the revenue that they need to run the town. Thus, you see Cambridge's rate plunging by 25% year over year, presumably as property values on high-dollar properties have boomed. This gives lie to the idea that politicians would just take the increased taxes from higher property values as a windfall. In actuality, the tax burden is redistributed as real estate wealth is created.