4 ms·
> Prop 13 keeps property taxes at the value when you purchased your home. That's a myth. Prop 13 limits assessed value from increasing by more than inflation r
by ac29 5y ago
> Prop 13 keeps property taxes at the value when you purchased your home.
That's a myth. Prop 13 limits assessed value from increasing by more than inflation rate and is limited to 2%/year overall. So yes, property taxes stay artificially low, especially over long times, but they do go up every year.
- imtringued 5y agoThe fact that Prop 13 applies to everyone by default is the mistake. It should be something you can apply for when your tax burden increases unreasonably quickly and even then the freeze would only last 10 years so that you can plan to leave if the tax rate becomes unaffordable.