3 ms·

>Without Prop 13, home owners tax rates rise just because nearby businesses are successful, which is absurdly regressive. Because the value of the asset they o

>Without Prop 13, home owners tax rates rise just because nearby businesses are successful, which is absurdly regressive. Because the value of the asset they own has increased. Prop 13 discourages people from moving and unfairly shifts the tax burden on new residents

zepto 6y ago
> Because the value of the asset they own has increased. Ok, so do you propose giving cash payments to home owners whenever there is a dip in their property price? Also, what’s wrong with being able to call a place home and be able to live there without being driven out? Seems like a human right since we first moved into caves.
- strange_quark 6y ago
  Property taxes aren't like income taxes -- the tax rate is incredibly variable and set at at the local level when cities make their budgets. So if the city doesn't need more revenue, the tax rate can just be adjusted down to keep property tax payments the same. But if the city does need more revenue, hopefully it's because more public services are being provided, in which case, it's entirely fair that the people who live there and benefit from the increased services pay for them.
  - zepto 6y ago
    This doesn’t actually address anything in my comment. It sounds like you are saying tax rates should have nothing to do with home values and should just be arbitrarily adjusted to make property owners pay for whatever the local government wants.
- throwaway6734 6y ago
  Why would they get more money when the price dips? Property tax rates should be fair to all property owners, not favor those that got in first which is what prop13 does. >Also, what’s wrong with being able to call a place home and be able to live there without being driven out? Nothing, just don't make others pay for it. Prop13 has created a distorted housing market that hurts many more people than it helps
  - zepto 6y ago
    > Why would they get more money when the price dips? Because they paid tax on a gain that wasn’t real. > just don't make others pay for it. Prop13 has created a distorted housing market that hurts many more people than it helps People who don’t pay property taxes aren’t paying anything at all. As soon as you buy property, you are benefiting from prop 13 yourself.
    - throwaway6734 6y ago
      >Because they paid tax on a gain that wasn’t real. You pay property tax on the assessed value of a piece of property. >As soon as you buy property, you are benefiting from prop 13 yourself. Based on what? Newer homeowners are carrying more of the tax burden than they would have without prop 13.
      - zepto 6y ago
        > Based on what? Newer homeowners are carrying more of the tax burden than they would have without prop 13 Yes, but as soon as they buy they start to benefit from their own taxes not rising.
    - jjav 6y ago
      > Because they paid tax on a gain that wasn’t real. Exactly. Imagine one bought GME at $10. It rose to $350+ because the market went nuts. You never sold so none of that is real to you. And the IRS comes back saying you now must pay taxes on your GME shares based on the $350 valuation because someone else paid that much for it. Fortunately stocks don't work that way. A home shouldn't either.
      - throwaway6734 6y ago
        Are you advocating that tax on housing should be purely when transactions occur like during stock sales? So no more yearly property tax?
        6y ago

zepto 6y ago

> Because the value of the asset they own has increased. Ok, so do you propose giving cash payments to home owners whenever there is a dip in their property price? Also, what’s wrong with being able to call a place home and be able to live there without being driven out? Seems like a human right since we first moved into caves.

strange_quark 6y ago
Property taxes aren't like income taxes -- the tax rate is incredibly variable and set at at the local level when cities make their budgets. So if the city doesn't need more revenue, the tax rate can just be adjusted down to keep property tax payments the same. But if the city does need more revenue, hopefully it's because more public services are being provided, in which case, it's entirely fair that the people who live there and benefit from the increased services pay for them.
- zepto 6y ago
  This doesn’t actually address anything in my comment. It sounds like you are saying tax rates should have nothing to do with home values and should just be arbitrarily adjusted to make property owners pay for whatever the local government wants.
throwaway6734 6y ago
Why would they get more money when the price dips? Property tax rates should be fair to all property owners, not favor those that got in first which is what prop13 does. >Also, what’s wrong with being able to call a place home and be able to live there without being driven out? Nothing, just don't make others pay for it. Prop13 has created a distorted housing market that hurts many more people than it helps
- zepto 6y ago
  > Why would they get more money when the price dips? Because they paid tax on a gain that wasn’t real. > just don't make others pay for it. Prop13 has created a distorted housing market that hurts many more people than it helps People who don’t pay property taxes aren’t paying anything at all. As soon as you buy property, you are benefiting from prop 13 yourself.
  - throwaway6734 6y ago
    >Because they paid tax on a gain that wasn’t real. You pay property tax on the assessed value of a piece of property. >As soon as you buy property, you are benefiting from prop 13 yourself. Based on what? Newer homeowners are carrying more of the tax burden than they would have without prop 13.
    - zepto 6y ago
      > Based on what? Newer homeowners are carrying more of the tax burden than they would have without prop 13 Yes, but as soon as they buy they start to benefit from their own taxes not rising.
  - jjav 6y ago
    > Because they paid tax on a gain that wasn’t real. Exactly. Imagine one bought GME at $10. It rose to $350+ because the market went nuts. You never sold so none of that is real to you. And the IRS comes back saying you now must pay taxes on your GME shares based on the $350 valuation because someone else paid that much for it. Fortunately stocks don't work that way. A home shouldn't either.
    - throwaway6734 6y ago
      Are you advocating that tax on housing should be purely when transactions occur like during stock sales? So no more yearly property tax?
      - 6y ago