7 ms·
Do you feel that it is fair to evict an old couple because they purchased their house in the 70s when it was in the woods, but now that people have built up a t
by generalpass 7y ago
Do you feel that it is fair to evict an old couple because they purchased their house in the 70s when it was in the woods, but now that people have built up a town around them, they have to go because they didn't plan on paying $7,400 per year in property taxes in their retirement planning, and then also can't afford to take on a new mortgage in the region, so move really far away from where they saved for and planned for retiring?
- fortran77 7y agoRight. And $7,400? Try $30,000! That's what the starting property tax is on a $2.5MM house in Sunnyvale is today. That's what people moving into Sunnyvale California in 2020 are paying. https://homeguides.sfgate.com/calculate-california-property-taxes-newly-purchased-home-2875.html https://homeguides.sfgate.com/calculate-california-property-...
- triceratops 7y agoOr they could sell to a condo developer, get a brand new unit, with lesser maintenance needed, in the same location. It doesn't have to be a binary choice between "sell and move away" and "stay and keep prop 13". With Prop 13 and zoning restrictions, "sell to an upzoner" is essentially off the table. Also an old couple who have been renting since the 70s could be evicted until state-wide rent control was passed this year. No one cared about them this whole time. It's also not clear what things like commercial properties or family farms have to do with "keeping old people in their homes". All these are covered under Prop 13.
- pound 7y agoAnd don't forget non-primary residences. Not only prop13 "helps" you to stay in that old estate of yours that you may not be able to afford with increasing taxes, it also allows you to keep the cabin (or two) in Tahoe.
- fortran77 7y agoI'm all for SB50. Get rid of zoning restrictions. Don't conflate Prop 13 and SB50.
- triceratops 7y agoJust curious, are you in favor of statewide rent control too? > Don't conflate Prop 13 and SB50. The existence of Prop 13 has created a large class of voters opposed to rationalizing zoning laws - such as by SB50. It benefits these people to restrict housing supply, and Prop 13 ensures they don't pay the cost. Prop 13 is one of the root causes of all of California's housing supply issues.
- fortran77 7y agoI think we should build a lot more housing and make housing affordable by increasing supply.
- triceratops 7y agoHow do you convince the opponents of SB50 to come around?
- generalpass 7y agoPay them more money than the other guys are paying them.
- triceratops 7y agoWho are the "other guys" here? What does "pay them money" mean?
- generalpass 7y agoI assumed you were referring to the politicians voting against the bill.
- amunicio 7y agoI never say it is fair to evict them. What is unfair is to have a two tier tax system: one for nubs and one for the established. The noob faces a double whammy, he needs to put a lot of money for the house and he has to pay a higher tax rate (and he has to live there because his livelihood depends on it). The established has an incredible investment in his home with a big market value giving him many options.
- roca 7y agoFinancial instruments can turn their equity into an annuity which will pay the taxes, or the taxes can be deferred until they die or sell. The rest of the world manages without Prop 13.
- fortran77 7y ago"A total of 44 states and the District of Columbia have at least some limit on the amount local communities can raise property taxes."