3 ms·
In some states (e.g., California) the taxed value is not equal to the market value. Especially for home purchases made decades ago.
by JMTQp8lwXL 7y ago
In some states (e.g., California) the taxed value is not equal to the market value. Especially for home purchases made decades ago.
- benrbray 7y agoSounds like a problem that should be fixed by setting the tax value equal to market value.
- JMTQp8lwXL 7y agoPrior to 1978, that was indeed the case. Rising property values were kicking seniors on fixed incomes out of their homes, then Prop 13 was passed.