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> The killer with high property taxes is that you have to keep earning more as your property increases in value, or there is a real risk of you falling behind
by ceeplusplus 4y ago
> The killer with high property taxes is that you have to keep earning more as your property increases in value, or there is a real risk of you falling behind
That's a feature, not a bug. The entire reason California's real estate market is so dysfunctional is that people are disincentivized from selling due to Prop 13, so you have people living in oversized houses paying a tiny fraction of the property tax their neighbors are.
You "falling behind" means someone else gets a fair shot at living in the area without being disadvantaged by a 10x higher property tax.
Ideally the property would never increase in value in the first place, because we'd build enough housing to prevent that.
- runako 4y ago>Ideally the property would never increase in value in the first place, because we'd build enough housing to prevent that. This is the key takeaway from all of my experiences reading about and owning property. We'd all be much better off if we built a ton more housing, but that doesn't fall within the Overton window and so likely will not happen.