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Amend Prop 13 to allow tax increase of up to 10% per year on rental properties. Houses will flood the resale market as owners try to avoid the taxes, driving do
by jmpman 8y ago
Amend Prop 13 to allow tax increase of up to 10% per year on rental properties. Houses will flood the resale market as owners try to avoid the taxes, driving down housing prices. Prop 13 wasn’t intended as a giveaway to rent seekers, and yet it’s made it crazy for anyone to sell if they can rent. That needs to be reversed.
- refurb 8y agoDon't think you can do that unless you allow some of those taxes to be passed through to the tenants.
- jmpman 8y agoYou think that tenants are currently paying less than the maximum amount the landlords can extract from them?
- jayd16 8y agoSure, if rentals becomes more scarce some will be forced to pay more and some will be driven out of the state. What other option is there? They can suddenly afford a house?
- pkaye 8y agoWill you allow rents to increase to cover increased costs?
- brewdad 8y agoThe rents as they are now have no relation to the underlying costs.
- dredmorbius 8y agoThe taxes extract surplus value now appropriated by landlords. Rents are unchanged. Land supply is inelastic. https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax
- rcpt 8y agoAmend prop 13 to have it not exist