4 ms·
For CA, those housing units are negatives on the budget because of prop 13. It doesn't really matter where they are built.
by mahyarm 9y ago
For CA, those housing units are negatives on the budget because of prop 13. It doesn't really matter where they are built.
- scriptkiddy 9y agoI would be strongly in favor of reforming that law then. I have not seen anything regarding it come up on any of the recent ballots.
- ericd 9y agoA repeal is hugely unpopular amongst many, since it would destroy house values and immediately make houses unaffordable for many owners on borderline incomes. You could try phasing it in, but housing values would take the change into account quickly, depending on how it's structured. Would be great for renters looking to buy, but catastrophic for recent buyers. That said, property taxes are very important as a feedback loop to discourage nimbyism that drives up prices.
- andrewjl 9y agoYes prop 13 is basically the reason behind the differential. And because it is a political non-starter it's misplaced incentives are baked into the CA real estate market.