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There are a number of ways that property taxes could be handled so as to not force people out of their homes as property values fluctuate. Just one example, the
by entee 9y ago
There are a number of ways that property taxes could be handled so as to not force people out of their homes as property values fluctuate. Just one example, there could be a maximum on percentage of income that can be charged as property tax. Pegging those taxes to prices that are literally decades old seems like the least efficient and most distortionary method. Nevermind that handing that benefit down generation after generation is the surest way to create a form of aristocracy.
Oh and let's not forget the many, many problems it has caused for the education system you so respect. Prop 13 is often named as one of the reasons why CA's public education system is under such financial duress at every level.
Why can't we just admit that we need far, far more housing stock, far, far better public transportation systems, far, far better infrastructure and that CA's unique property tax system has essentially stymied all of those efforts. I find if hard to believe CA wouldn't be better off without Prop 13.
On another note, this post strikes me as incredibly hostile toward anyone moving to California. "Stay away, this place is ours, and if you come and can't buy, then don't complain, because this place was ours first." "Oh, and you're a tech person, so bugger off, we don't need your kind anyway!"
Is the person who just bought property at market rate today more entitled to complain according to your metric? They will have paid more in taxes than the person who bought in the 70's cumulatively paid over all those decades within just a couple of years. Would they then be more Californian somehow? Entitled to more of the state's resources? How about those people who have rented here for 30 years? If you don't/can't own property are you less Californian?
- nontechdude1 9y agoI totally agree with more housing stock. I am a huge fan of Wieiners bill, except with the exception that some cities should not have an 8 story maximum. He is modeling it after Boston, and I've lived there, and huge complexes near transit stations is not a good thing in small cities with 1 railway station. But do that and keep prop 13 in place, please. We don't need the state to hire a bunch of new tax assessors; it's doing just fine destroying itself financially already.
- wjnqx 9y agoHow, exactly, is denying the state access to revenue supposed to improve its financial situation? If you want better use of money, you've got to vote for it.
- nontechdude1 9y agotax assessment would raise money but it would cost money. by costing money some businesses may leave. for example, amgen just put a new plant in RI instead of california.
- wjnqx 9y agoBusinesses are also going to leave when they have to pay workers several times what they would in other regions because of our insane housing prices. I don't understand how you're supposed to get a financially healthy state when it's starved of funds compared to states like MA that have reasonable and equitable property tax laws.