3 ms·
If property taxes were level across properties, wouldn't we likely see property values drop, given the presumed higher taxes in the future? I'd rather see us a
by pbuzbee 5y ago
If property taxes were level across properties, wouldn't we likely see property values drop, given the presumed higher taxes in the future?
I'd rather see us adopt lower but uniform property tax rates that are revenue-neutral with Prop 13 rates.
Of course I'm only an aspiring property owner so I have a significant bias here.
- rcpt 5y ago> wouldn't we likely see property values drop, given the presumed higher taxes in the future? Yes. Prop 13 is priced in to the market. Buyers are willing to bid higher because they expect that tax cut.
- seanmcdirmid 5y agoThe tax resets when they buy, which also leads to people not wanting to sell because they don’t want to give up their tax cut.