6 ms·
Prop 13 is one of the most Regressive Taxes (not progressive) in the history of housing. You have 2 people living next to each, both got exactly the same house
by pascalxus 10y ago
Prop 13 is one of the most Regressive Taxes (not progressive) in the history of housing. You have 2 people living next to each, both got exactly the same house, but one purchased it 20 years ago for 200K, the guy who purchases it today, has to pay 10 times more for the SAME house: 2 million dollars and then to add insult to injury has to pay nearly 10 times more taxes too.
If it wanted to be fair, Prop 13 should be exactly the opposite of what it is: it should tax the one who bought the house 10 times cheaper more and the new guy less.