4 ms·
Proposition 13 needs to end. An obvious reason is that property can be owned by a corporation or LLC somehow and you can sell that to someone, effectively sell
by rnk 5y ago
Proposition 13 needs to end. An obvious reason is that property can be owned by a corporation or LLC somehow and you can sell that to someone, effectively selling the house and avoid the proposition 13 tax reset. Proposition 13 has become just yet another way for wealthy people to avoid paying their fair share of taxes.
- dragonwriter 5y ago> Proposition 13 has become just yet another way for wealthy people to avoid paying their fair share of taxes. “Has become” implies that was ever not that.
- rnk 5y agoThe thing I was getting at is in other states, maybe all states, they calculate the estimated value and you pay property taxes for land based on that. But with california's special prop 13 system, you don't have to pay more as a property increases in value. Thus the tremendous value of these systems that transfer ownership but avoid that 'tax re-value'. In other places, you can't avoid paying higher taxes as places increase in value, generally.