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In California, Proposition 13 limits (among other things) reassessments to when the property changes hands or when there is new construction. Opinions vary on w
by Poiesis 16y ago
In California, Proposition 13 limits (among other things) reassessments to when the property changes hands or when there is new construction. Opinions vary on whether it's a good seal for the state. It's a great deal for me, though.
- swolchok 16y agoDoesn't it make it difficult to sell homes in high cost-of-living areas? Seems like you'd be taking a hit in the sale price to reflect the increased property tax burden on the new owner. I don't know whether you come out ahead, but it's probably more likely the longer you live there.
- Poiesis 16y agoWhat it does do is create incentives for people to remodel extensively--keeping just a fraction of the house intact so it's legally not new construction--rather than move.