4 ms·

No it's directly related to Prop 13. Without that law we could rely on stable property taxes for public services and infrastructure. But instead we shift the bu

by rcpt 3y ago

No it's directly related to Prop 13. Without that law we could rely on stable property taxes for public services and infrastructure. But instead we shift the burden of taxation to unstable sources and now here we are https://lao.ca.gov/publications/report/3497#How_Did_Proposition.A013_Change_Local_Governments_Mix_of_Tax_Revenues.3F https://lao.ca.gov/publications/report/3497#How_Did_Proposit...

fortran77 3y ago
It’s extremely stable. And it raises 2%/year, and gets reset when property changes hands.
- rcpt 3y ago
  That doesn't work unless the price of everything else is also fixed at 2%. This isn't a controversial point. Jerry Brown dedicated his entire career to this. The California budget is incredibly unstable because of Prop 13.
- kortilla 3y ago
  2% a year doesn’t match inflation. It’s literally codified to lower your tax burden on an inflation adjusted basis the longer you own the home. There is no logical defense for it other than “fuck you, I got mine”.
  - fortran77 3y ago
    It's to prevent people from being forced to sell their homes because speculators drive up the "values" in the neighborhood. There's no "fuck you" here.
    - kortilla 3y ago
      It went way beyond that intent. Not keeping up with inflation is a complete “fuck you” to everyone else who has to pay their fair share. It has nothing to do with speculators. There are people with multi million dollar homes in the Bay Area paying a few thousand a year in taxes because they bought in during the 70s. If they don’t want to pay the property taxes for the actual value, all of the profit from their home sale should go to the government as back payment for their societal delinquency. You can’t both claim that you’re just “being protected from speculators” while reaping the benefit of when you sell. Finally, most of the buyers in the Bay Area are not speculators. They are regular people looking for homes and prop 13 is fucking them by making them shoulder the majority of the tax burden. When one of my coworkers paid property taxes on his home in Sunnyvale for the first time, he paid more than the rest of the block combined despite all of the houses having roughly the same value. Complete insanity.
    - rcpt 3y ago
      No the California Tax Postponement Program does that https://www.prop13.wtf/2023/05/08/california-tax-postponement-program.html https://www.prop13.wtf/2023/05/08/california-tax-postponemen...

by rcpt 3y ago

fortran77 3y ago

It’s extremely stable. And it raises 2%/year, and gets reset when property changes hands.

rcpt 3y ago
That doesn't work unless the price of everything else is also fixed at 2%. This isn't a controversial point. Jerry Brown dedicated his entire career to this. The California budget is incredibly unstable because of Prop 13.
kortilla 3y ago
2% a year doesn’t match inflation. It’s literally codified to lower your tax burden on an inflation adjusted basis the longer you own the home. There is no logical defense for it other than “fuck you, I got mine”.
- fortran77 3y ago
  It's to prevent people from being forced to sell their homes because speculators drive up the "values" in the neighborhood. There's no "fuck you" here.
  - kortilla 3y ago
    It went way beyond that intent. Not keeping up with inflation is a complete “fuck you” to everyone else who has to pay their fair share. It has nothing to do with speculators. There are people with multi million dollar homes in the Bay Area paying a few thousand a year in taxes because they bought in during the 70s. If they don’t want to pay the property taxes for the actual value, all of the profit from their home sale should go to the government as back payment for their societal delinquency. You can’t both claim that you’re just “being protected from speculators” while reaping the benefit of when you sell. Finally, most of the buyers in the Bay Area are not speculators. They are regular people looking for homes and prop 13 is fucking them by making them shoulder the majority of the tax burden. When one of my coworkers paid property taxes on his home in Sunnyvale for the first time, he paid more than the rest of the block combined despite all of the houses having roughly the same value. Complete insanity.
  - rcpt 3y ago
    No the California Tax Postponement Program does that https://www.prop13.wtf/2023/05/08/california-tax-postponement-program.html https://www.prop13.wtf/2023/05/08/california-tax-postponemen...