4 ms·
Prop 13 is a huge distortion to tax and revenue generally, but it doesn't promote anti-development NIMBYism. When the carrying costs of a piece of property are
by harryh 7y ago
Prop 13 is a huge distortion to tax and revenue generally, but it doesn't promote anti-development NIMBYism.
When the carrying costs of a piece of property are artificially low there isn't nearly as much incentive to put that piece of property to its best and highest use, so you end up with people being just fine with single family houses instead of multi story apartment buildings.