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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 pr

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?
    - zepto 6y ago
      Well that’s exactly the point - Prop 13 strikes a compromise. It allows for yearly property tax based on what the person could afford when they bought the property. That’s a reasonable compromise. People still get to own and live in homes and not be driven out by the actions of others over which they have no control. And the community gets a reliable long term revenue stream, that is relatively stable even though boom and bust cycles.
      - throwaway6734 6y ago
        >That’s a reasonable compromise. That's the entire discussion. This is entirely your opinion. The previous poster was cherrypicking a comparison to stocks which is what I was trying to clarify.

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?
  - zepto 6y ago
    Well that’s exactly the point - Prop 13 strikes a compromise. It allows for yearly property tax based on what the person could afford when they bought the property. That’s a reasonable compromise. People still get to own and live in homes and not be driven out by the actions of others over which they have no control. And the community gets a reliable long term revenue stream, that is relatively stable even though boom and bust cycles.
    - throwaway6734 6y ago
      >That’s a reasonable compromise. That's the entire discussion. This is entirely your opinion. The previous poster was cherrypicking a comparison to stocks which is what I was trying to clarify.