2 ms·
> I do know that some of the tax incentives related to real property in California are seriously problematic. How to fix them? Repeal prop 13, and replace it w
by jfim 4y ago
> I do know that some of the tax incentives related to real property in California are seriously problematic. How to fix them?
Repeal prop 13, and replace it with property tax deferral, as done in Texas. If an elderly homeowner living in their house cannot (or does not want to) pay their property taxes, they can elect to defer them for as long as they want to, with some interest accruing. The county puts a lien on the property for the amount of tax due.
When the owner passes away, moves out of the property, or sells it, the tax lien needs to be paid, which can be done with the proceeds from selling the property.
- DoreenMichele 4y agoThank you. Have an upvote. I don't know if that actually works, but I do know Prop 13 is a big problem and this is the first I recall seeing some meaningful attempt to suggest an alternative that is actually in use somewhere, so has some hope of being not completely nuts.