4 ms·
I'm 100% with you, but unfortunately residential property taxes aren't going to be able to cover necessary municipal infrastructure in California until we get P
by kcorbitt 9y ago
I'm 100% with you, but unfortunately residential property taxes aren't going to be able to cover necessary municipal infrastructure in California until we get Prop 13[0] repealed. It may have been passed with noble intentions (although from the outside it sure looks like existing property holders transparently exploiting newcomers to the area), but the net effect is a systemic underinvestment in local infrastructure since the 1970s.
The YIMBYers would love to kill off Prop 13 and return to sane levels of local funding, but it's state wide and still far too politically sacred to be attacked directly.
[0]: https://en.wikipedia.org/wiki/California_Proposition_13_(1978) https://en.wikipedia.org/wiki/California_Proposition_13_(197...
- asabjorn 9y agoAs far as I know prop 13 suppress property taxes of old buildings, not new ones. New buildings should therefore have an outsized impact on the ability to create infrastructure.
- nshelly 9y agoThere's actually a proposal for a ballot measure next year to end Prop 13 for commercial properties -- definitely a start. It would bring $11 billion in revenue every year. http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-a-major-change-to-proposition-13-takes-1513368938-htmlstory.html http://www.latimes.com/politics/essential/la-pol-ca-essentia...