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That is an absurd statement. For example, it resets every time the house is sold.
by baggy_trough 7y ago
That 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.