How Prop 13 spun Bay Area housing costs out of control
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2020 Feb 9, 8:00am 2,603 views 61 comments
by tovarichpeter ➕follow (7) 💰tip ignore
https://www.nbcbayarea.com/news/local/making-it-in-the-bay/making-it-in-the-bay-how-the-bay-areas-housing-crisis-spiraled-out-of-control/2230410/
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SunnyvaleCA
2020 Feb 11, 5:45pm
I believe Santa Clara County has a deal where old people can have the county put a lien on their house for the taxes owed. The lien isn't collected until the old person dies (or maybe it is when they move out of their house?). That seems like a great solution to keeping the old people in their homes. If their home didn't increase much in the last 40 years, then even without Prop 13 their taxes wouldn't be very much. If their home price zoomed, they wouldn't need the help of Prop 13 because they could just tap that $1,000,000 (or more!) free equity in their house. If they used their house as an ATM... then they made financial choices and shouldn't be subsidized by everyone else.
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