4 ms·
In California the problem is mostly that over time if you've held property it's become insanely cheap to be a landlord. Prop 13 applies to every parcel in the s
by zjp 4y ago
In California the problem is mostly that over time if you've held property it's become insanely cheap to be a landlord. Prop 13 applies to every parcel in the state. Even Florida tackles this more sensibly. A person's primary residence can get a homestead exemption and that's it.
John Paul Stevens on Prop 13[1]:
In comments from the bench, Blackmun called California’s tax system “distasteful, unwise and not likely to be copied by others.”
Justice John Paul Stevens, the lone dissenter, called the state’s longtime homeowners “squires” who voted themselves “a tremendous windfall” at the expense of young people and new residents.
“Simply put,” he said, “those who invested in California real estate in the 1970s are among the most fortunate capitalists in the world.”
[1] https://www.latimes.com/archives/la-xpm-1992-06-19-mn-704-story.html https://www.latimes.com/archives/la-xpm-1992-06-19-mn-704-st...
- vanilla_nut 4y agoProp 13 has basically turned California into a very expensive capitalistic approximations of feudal Europe. At least the weather is nice.
- maherbeg 4y agoHave there been any attempts to modify Prop 13 to a homestead exemption over time? It seems like it should be relatively straight forward to start narrowing it down bit by bit.
- frumper 4y agoThe most recent election a proposition failed to remove commercial properties from the protection.
- zjp 4y agoAs frumper says, there was a recent attempt to remove Prop 13 for commercial properties, but it narrowly failed because the argument was that the reform movement was coming for homeowners next.