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> 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 bi
by 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.