3 ms·

Part of this is tying property taxes to real property values (yes I know SF's hands are bound by CA law and prop 13 in particular). These days I live in NZ her

Part of this is tying property taxes to real property values (yes I know SF's hands are bound by CA law and prop 13 in particular). These days I live in NZ here rates (the local name for our property tax equivalent) are determined by relative property values. Effectively the City decides it needs to raise $N this year - your property tax will be the fraction of this determined by the value of your land divided by the value of all the land in the city - times that $N. What this means is that if all property values double (or halve) your property tax doesn't change. If you're worried that cities will raise property tax too much - limit increases in that $N (you'll have to allow for simple inflation).

intrasight 4y ago
My understanding is that that is the rule in most states. Is where I live. I don't know about CA.
- onlyrealcuzzo 4y ago
  States and counties are starting to move away from this. Michigan essentially has a prop 13 that limits property tax increases to below what the average inflation rate is (far below average home price appreciation). Counties like Allegheny in Pennsylvania (Pittsburgh) simply just haven't reassessed properties since 2012 - which is actually even more regressive than Prop 13 in CA and the equivalent in Michigan. I imagine in the near future Prop 13 equivalents will become more common, not less. Voters vote for what's good for them, not what's fair.
  - intrasight 4y ago
    In Allegheny myself (perhaps you saw that). You are right that having such a law doesn't mean that it will be enforced. That's what the courts are for. https://www.publicsource.org/allegheny-county-property-tax-appeal-assessment-lawsuit-unbalanced/ https://www.publicsource.org/allegheny-county-property-tax-a...
    - onlyrealcuzzo 4y ago
      I didn't see that - but thanks for the link [=
rr888 4y ago
This is normal in all states except CA is different with prop 13.

intrasight 4y ago

My understanding is that that is the rule in most states. Is where I live. I don't know about CA.

onlyrealcuzzo 4y ago
States and counties are starting to move away from this. Michigan essentially has a prop 13 that limits property tax increases to below what the average inflation rate is (far below average home price appreciation). Counties like Allegheny in Pennsylvania (Pittsburgh) simply just haven't reassessed properties since 2012 - which is actually even more regressive than Prop 13 in CA and the equivalent in Michigan. I imagine in the near future Prop 13 equivalents will become more common, not less. Voters vote for what's good for them, not what's fair.
- intrasight 4y ago
  In Allegheny myself (perhaps you saw that). You are right that having such a law doesn't mean that it will be enforced. That's what the courts are for. https://www.publicsource.org/allegheny-county-property-tax-appeal-assessment-lawsuit-unbalanced/ https://www.publicsource.org/allegheny-county-property-tax-a...
  - onlyrealcuzzo 4y ago
    I didn't see that - but thanks for the link [=

rr888 4y ago

This is normal in all states except CA is different with prop 13.