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Here is an image that shows you what California's property tax system has done: https://twitter.com/nextdoorsv/status/1265719788875272192 https://twitter.com/ne

Here is an image that shows you what California's property tax system has done: https://twitter.com/nextdoorsv/status/1265719788875272192 https://twitter.com/nextdoorsv/status/1265719788875272192 Keep in mind that the tax break can be passed on to children when the owner passes. I fail to see the collective good in that system. But at least the owners of that $3.5M home never have to leave while they pay $800/yr in property taxes and the newcomer that moved into the identical house next door pays $25k/yr.

giantg2 5y ago
The greater good is that you don't force people out of their homes. If you worked at 1960s-1990s pay, there's no way you're affording $30k a year in tax, so it makes sense to lock it at the purchased value. Sure the child inheritance of the old tax rate might not be. The real question is why not use income tax? This would avoid kicking out the elderly, and only collect money from those who are actually making it. I don't generally like the idea of taxing people on things they already have. I would rather see it on the people who are making money. If you are benefiting from the system (income) then pay part of it (tax). Under these other schemes, it could be that the system has failed you, left you behind, etc and then the tax is like the nail in the coffin. It makes the most sense to take the money from the people who are making it.
jjav 5y ago
> https://twitter.com/nextdoorsv/status/1265719788875272192 https://twitter.com/nextdoorsv/status/1265719788875272192 No idea where that is so can't comment on it. However, I do know that some of these sites that report propery taxes do have incorrect information. In my neighborhood (where I bought before it was built and have lived there ever since and know well who has lived for how long in each house) I see most houses on my street reported with their correct property tax but there are a few outliers which are completely wrong. Those show a property tax far lower than it ever was. If someone were to take a screenshot of the property tax reported for my street, they'd think there is a 100x difference between the lowest and the highest for similar homes. But those lowest numbers are not true. The real spread is more like 2.5x from lowest to highest. Which is not nothing, obviously, but way closer than it would seem.

giantg2 5y ago

The greater good is that you don't force people out of their homes. If you worked at 1960s-1990s pay, there's no way you're affording $30k a year in tax, so it makes sense to lock it at the purchased value. Sure the child inheritance of the old tax rate might not be. The real question is why not use income tax? This would avoid kicking out the elderly, and only collect money from those who are actually making it. I don't generally like the idea of taxing people on things they already have. I would rather see it on the people who are making money. If you are benefiting from the system (income) then pay part of it (tax). Under these other schemes, it could be that the system has failed you, left you behind, etc and then the tax is like the nail in the coffin. It makes the most sense to take the money from the people who are making it.

jjav 5y ago

> https://twitter.com/nextdoorsv/status/1265719788875272192 https://twitter.com/nextdoorsv/status/1265719788875272192 No idea where that is so can't comment on it. However, I do know that some of these sites that report propery taxes do have incorrect information. In my neighborhood (where I bought before it was built and have lived there ever since and know well who has lived for how long in each house) I see most houses on my street reported with their correct property tax but there are a few outliers which are completely wrong. Those show a property tax far lower than it ever was. If someone were to take a screenshot of the property tax reported for my street, they'd think there is a 100x difference between the lowest and the highest for similar homes. But those lowest numbers are not true. The real spread is more like 2.5x from lowest to highest. Which is not nothing, obviously, but way closer than it would seem.