3 ms·
But before Prop 13, people on fixed incomes were getting taxed out of their paid-off homes they'd lived in for decades.
by mikevp 7y ago
But before Prop 13, people on fixed incomes were getting taxed out of their paid-off homes they'd lived in for decades.
- ng12 7y agoWhich is in itself a symptom of the housing crisis. Instead of fixing the root problem they accelerated it.
- redis_mlc 7y agoDownsizing as you get older is a normal thing in the other 49 states. Also, Prop 13 inexplicably applies to commercial real estate, and inherited property.
- Gibbon1 7y agoNothing inexplicable about the application to commercial real estate. The major backers of the law were corporate interests. Also the inherited property bit was a separate amendment. And there is no limit either.