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Exactly. If you'd have owed $11,000 this year without Prop 13, but because of it are just paying $1000, the other $10,000 should be applied as a lien against yo
by raldi 13y ago
Exactly. If you'd have owed $11,000 this year without Prop 13, but because of it are just paying $1000, the other $10,000 should be applied as a lien against your house. Even 30 years of these liens will leave a sizable chunk of profit to you, considering you're capturing 30 years of appreciation.
- prostoalex 13y agoThere's an assumption here that property prices always go up. What if assessed value during the boom times of 2006-2008 was so high, that accumulated tax obligation exceed or are close to the current value of the property?
- ScottBurson 13y agoThat's what I'm talking about here: https://news.ycombinator.com/item?id=7593235 https://news.ycombinator.com/item?id=7593235