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>These "vacant" homes are already taxed at whatever millage rate is set in Los Angeles...I'm presuming it's more than zero. Prop 13 essentially broke the conce
by scoofy 7y ago
>These "vacant" homes are already taxed at whatever millage rate is set in Los Angeles...I'm presuming it's more than zero.
Prop 13 essentially broke the concept of property tax in California.
- baggy_trough 7y agoThat is an absurd statement. For example, it resets every time the house is sold.
- sharkmerry 7y agoright. but its still limited to 1% of purchase price and only 2% raise each year. Whereas the other 49 states, reassess and raise taxes. Prop 13 incentivizes not moving, and it only gets better the longer you dont move
- chrisco255 7y agoI do think Prop 13 should only apply to a primary residence. FL has a homestead exemption, for example, that lowers the assessment and there's a cap on yearly increases.
- jiggliemon 7y agoProp 13 is the only reason my grandma can live in the home that she purchased. Otherwise she’d be squeezed out due to property taxes.
- zhoujianfu 7y agoReverse mortgage?
- egberts 7y agoWhy should senior citizens be forced to use reverse mortgage? What if they wanted to pass something on to their kids after they passed away?