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> “My house is already taxed on its current value rather than the value I purchased it for.” That’s what California’s Prop 13 was supposed to address.
by xtiansimon 1y ago
> “My house is already taxed on its current value rather than the value I purchased it for.”
That’s what California’s Prop 13 was supposed to address.
- UncleMeat 1y agoAnd this is a widely criticized policy that it not the norm across the rest of the country.
- xtiansimon 1y agoThat shocked me when I moved to Nassau County, NY--that home owners did not have that protection. Nassau County is allegedly one of the most expensive tax counties in the country. There is definitely a retirement migration of blue collar residents who can't afford the property tax increases on their home when they retire. And in this perverse housing market, what was even 350k 10 years ago is 750k now (I know because I was looking). Forget what retirement age homeowners paid 30+ years ago.