This insidious law does two things
it shields older homeowners from the consequences of their ill fated voting patterns and
It passes the tax burden to younger new home owners.
Let the old retards in cali deal with their votes. Stop putting the burden on the young.
As a person that runs a family trusts with property holdings in 12 states, I love prop 13. Don’t touch it. Also as we expand our trust holding to other states, I miss prop 13, in MN and TX for instance the prop taxes are ridiculous. MN was so bad we pulled out our money and went to WV. GA is starting to get bad as well. They have prop tax and a separate school tax that is ridiculous.
Certainly we can all agree this is absurd. $5 million malibu home with a $760k assessed value. And the house is a rental! No original homeowner is living there. The owner is paying 15% of the taxes of someone who bought a $5 million house last year.
You worried about grannies getting thrown out? Then we have a program you QUALIFY for if you can't afford the property taxes. If you rent out the house, no tax break. And any tax relief should be deferred. Once the house is sold, the deferred taxes get paid back. No need for a giveaway to everybody.
I'm for any law that denies revenue extorted from old tax payer mutts like me to the assembled merde in Sacramento and DC. OOOORRRRAAAHHHHH!!!!!!!!!!
FYI, The majority of California voters are left wing liberals , and even they overwhelmingly passed Prop13 in 1978 thank goodness.
I voted for Prop 13 when I was in my early 30s, and have never voted for a Democrat. You ever consider that high property taxes keep young people from being able to purchase a home?
well, that's one way to crash housing prices. lmao. sc
Actually the old people who voted in Prop 13 are mostly conservative, even me. I just have no use for that unpatriotic draft dodging POS coward Donald.
Good luck with that. Do you know why prop 13 was passed? It was because the stste was raising property taxes so fast that thousands of people were losing their houses due to the steep increase in taxes. Retired people who were now on limited incomes had to sell their houses. The criminal state was essentially confiscating private property this way. Good luck with your repeal. I’d much rather see Sacramento burned down.
Spoken like a true Socialist. The immigrants and homeless should be entitled to camp in your backyard too, right?
I am young, and my current residence went up 700K since I bought it 5 years ago (more, but I am throwing in what I dropped into the remodel as the initial PP). This happens in California and other places where people want to live. I'll be damned if I am going to let the crooks in Sacramento get their hands on that kind of money from me just because I know a good deal when I see one.