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==If you look at all the other High Schools in the area, they're all 8/10 or 9/10.== And this house would be even more expensive if it was in the boundaries of
by moorhosj 8y ago
==If you look at all the other High Schools in the area, they're all 8/10 or 9/10.==
And this house would be even more expensive if it was in the boundaries of those schools. $600k for a house that size, more than an hour outside of a city, with poor local schools is astronomical.
Prop 13 deserves a lot of the blame. However, at some point the prices reach a point where people will just move to New York, Boston, Chicago, Philly, Austin, Nashville, Portland, Dallas, etc. In Chicago, we have already seen some of this with companies like Foursquare, Google, Facebook, Coinbase and Salesforce opening more engineering-focused offices in the past couple of years.
- sharkmerry 8y agoI think prop 13 is 99% of the issue. It disincentivizes moving at an increasing rate the longer you hold on. Taxes rising with market value prevents this acceleration. Average home value in Palo Alto is 2,901,408. Average Property tax is 0.42%. $12185.88. Thats the equivalent tax bill of a new house worth 1.2 million, less than 50% of the average house value in Palo Alto