4 ms·

i understand your sentiment on the first but that’s what originally led to proposition 13 and is responsible for a lot of housing and budget issues in CA. i am

i understand your sentiment on the first but that’s what originally led to proposition 13 and is responsible for a lot of housing and budget issues in CA. i am not saying mark to market makes sense but for this rule, if the grandma is in the .1% her net worth is well north of 10m i’m sure she will be able to afford the 20% increase i’m not saying mark to market makes sense but your grandma example is not a good counter example

ianai 8y ago
It’d be pretty easy to carve out for people without resources to pay such taxes.
- joeyrideout 8y ago
  They will leave the country immediately.
  - gumby 8y ago
    It turns out most people don't organize their lives around tax policy. And in the case of US persons (citizens and GC holders) leaving the country doesn't remove the obligation to file and pay taxes.
  - ianai 8y ago
    Doubtful. Maybe they’ll move somewhere else in the US. Ie dispersing throughout the rest of the US. They’d increase demand for goods/services elsewhere and maybe real estate becomes cheaper where they left.
gumby 8y ago
Prop 13 caused lots of problems and also provided structural social benefits, allowing people to stay in their homes. Removing prop 13 from commercial buildings (nobody lives there) and removing the socially corrosive ability to give it to your kids tax free would fix most of the financial and social problems and preserve the best part.
- sologoub 8y ago
  Or better yet, remove corporations from being eligible to enjoy prop. 13 all together - whether commercial, industrial, farm or residential. This would keep grandma in her home or farmstead, but prevent corps from selling, but doing tax free exchanges and preserving the low tax base forever. PS, mark-to-market is a terrible idea and these gains are not income for most people until sold. We already have property taxes, we just need them to work.
- amluto 8y ago
  I think it should be removed from everything except an owner-occupied primary residence. I see no social benefit to giving a tax advantage to long time landlords.

ianai 8y ago

It’d be pretty easy to carve out for people without resources to pay such taxes.

joeyrideout 8y ago
They will leave the country immediately.
- gumby 8y ago
  It turns out most people don't organize their lives around tax policy. And in the case of US persons (citizens and GC holders) leaving the country doesn't remove the obligation to file and pay taxes.
- ianai 8y ago
  Doubtful. Maybe they’ll move somewhere else in the US. Ie dispersing throughout the rest of the US. They’d increase demand for goods/services elsewhere and maybe real estate becomes cheaper where they left.

gumby 8y ago

Prop 13 caused lots of problems and also provided structural social benefits, allowing people to stay in their homes. Removing prop 13 from commercial buildings (nobody lives there) and removing the socially corrosive ability to give it to your kids tax free would fix most of the financial and social problems and preserve the best part.

sologoub 8y ago
Or better yet, remove corporations from being eligible to enjoy prop. 13 all together - whether commercial, industrial, farm or residential. This would keep grandma in her home or farmstead, but prevent corps from selling, but doing tax free exchanges and preserving the low tax base forever. PS, mark-to-market is a terrible idea and these gains are not income for most people until sold. We already have property taxes, we just need them to work.
amluto 8y ago
I think it should be removed from everything except an owner-occupied primary residence. I see no social benefit to giving a tax advantage to long time landlords.