5 ms·
doesn't it largely stem from Prop 13 which incentivizes all current land-owners to block any possibility of increasing density, at the expense of the rest of so
by ek750 6y ago
doesn't it largely stem from Prop 13 which incentivizes all current land-owners to block any possibility of increasing density, at the expense of the rest of society?
It's interesting to me that such a universally easy sell as, "no new taxes" can result in such a distorted and, IMO, grotesque unintended consequence.
- everybodyknows 6y ago>block any possibility It's even simpler than that. Had a conversation with a man who owns some tiny 60's vintage apartments on an ocean-view lot. He turns down market-rate offers from developers looking to put in family-size units because with his Prop. 13 tax tailwind, he makes out well enough despite the lower rents.
- refurb 6y agoIt doesn’t sound like Prop 13 is that influential for him. He’s turning down like millions for some reoccurring cash flow?
- egberts 6y agoCalifornia Proposition 13 is about how limited the state government can charge on property tax (one percent)?and how much the appraisal can go up year after year. Nothing to do with density, although there are numerous county and local laws on density zoning (which is not Prop 13) Of course, it has been 1973 when this happened and I think only twice has the state government tried to changed it by “stealthily titled” proposition and failed.