3 ms·
There's a coordination problem with this, though -- how do you get all the different cities to all adopt this tax scheme, and if some don't, don't we just shift
by aetherson 7y ago
There's a coordination problem with this, though -- how do you get all the different cities to all adopt this tax scheme, and if some don't, don't we just shift around density?
- epistasis 7y agoRight now, California's property taxes are highly restricted by Prop 13, an anti-tax measure that, among other things that restrict the ability of the legislature to levy taxes, caps property tax basis at purchase price plus 2% increase per year, far far less than real estate appreciation, and often less than general inflation. So property tax is already controlled at the state level, and any change will require voters to enact it by proposition at the ballot box, statewide.