3 ms·
Prop 13 is a disaster, but it was not the product of any specific political persuasion. It was even well-intentioned, but the unforseen (although predictable i
by quesera 2y ago
Prop 13 is a disaster, but it was not the product of any specific political persuasion.
It was even well-intentioned, but the unforseen (although predictable in direction if not magnitude) consequences are in fact disastrous.
I have wondered about how to repeal Prop 13, but I can't come up with a repeal that doesn't do equal and opposite damage.
- hnav 2y agoOver the course of a decade go from a max of 2%/year to something like 10%/year. Maybe some extra tax breaks for those who lost equity when selling a long-term residence (doubt, probably just slow their growth)
- quesera 2y agoRight, some kind of phase-in would be necessary. The opposite damage I'm talking about is forcing people to lose their houses for inability to pay current-FMV property taxes. Mostly older/retired/fixed income people. This would apply to any phase-in schedule too.
- hooverd 2y agoYou could implement some sort of right of first refusal for any multi-family build on that land.
- deleted 2y ago[deleted]
- ImJamal 2y ago> I have wondered about how to repeal Prop 13, but I can't come up with a repeal that doesn't do equal and opposite damage. I haven't thought enough of the consequences, but what I have been pondering is complete removal of property tax on your personal residence. You have to spend 50% + 1 day to count it as your residence. Any commercial property or nonresidence would continue to have property tax. There would be some cheats, like people claiming to have spent 50% + 1 day despite not having done that, or somebody living in an apartment complex they own to avoid tax, but overall I think it would solve a lot of problems. The only drawback I see is less tax revenue.