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How it works everywhere else: Your home is reassessed every so often -- usually 1-4 years.
it devastates people in fixed incomes, like retired people
This is why I voted for Prop 19 and Prop 15 this year, the tax basis of a home should not be inheritable. Properties should automatically be reassessed upon transfer or death. Prop 13 has led to zombie homes and wealthy loop holes.
This whole article manipulates words to pitch analogies that do not exist. Or flat out ignores WHY Prop 13 existed in the first place.
TrumpingTits saysThis whole article manipulates words to pitch analogies that do not exist. Or flat out ignores WHY Prop 13 existed in the first place.
Prop13 is a TAX REVOLT, pure and simple. Is it perfect? No. But you better believe that our tax situation overall will not improve if it's repealed. Au contraire - it will get MUCH worse.
Does anyone really believe that amending or repealing Prop. 13 will reduce anyone's taxes? The scum that run the governments in CA believe they are entitled to taxes. Any perceived inequality is interpreted as being cheated out of the taxes to which they are entitled. And they will exploit any emotion they can (unfairness) to convince everyone that everyone needs to pair their "fair sure." In reality, "fair share" is just a euphemism for pay more taxes.
That said, I do believe that inheriting a house with a low tax basis just so that one can rent it out at inflated rates is unjust.
Eric Holder saysTrumpingTits saysThis whole article manipulates words to pitch analogies that do not exist. Or flat out ignores WHY Prop 13 existed in the first place.
Prop13 is a TAX REVOLT, pure and simple. Is it perfect? No. But you better believe that our tax situation overall will not improve if it's repealed. Au contraire - it will get MUCH worse.
Exactly, even with its flaws its better than the looting liberals getting their hands on more tax dollars. At this point if they could repeal it how would that even work at this point without causing a complete melt down since its been baked into peoples budgets over the last 30 plus years?
Why? I seriously doubt it will mention how California pays a huge amount per student in taxpayer money but has shit to show for it. It pays far more than South Korea or Finland do, yet their educational system produces far superior results. All of which has NOTHING to do with how the funding in those countries is provided and everything to do with corrupt teachers unions and their political allies.California also encourages an enormous inflow of parents who have no education and also don't even speak English. That puts their kids at a disadvantage to learning before they even get to their first day of classes. It also puts an additional strain on school resources.
+ Palo Alto - the epicenter of Silicon Valley - is one of the wealthiest neighborhoods in the country.
+ East Palo Alto, on the other hand, has been historically disadvantaged through policies such as redlining.
A repeal will only make things worse in my opinion and helped me make my mind up: Despite having over 500K to put down on a house in CA I'm not going to buy here. I'm just investing it now until I GTFO of this fucked up state sometime in the next 1-5 years.
IL is bad. Your taxes are going to go up.
why would you live in CA?
I wouldn't plant any roots in CA
yep, I will inherit at least one property. Why should I get a house AND low prop13 taxes. I will most likely rent out the house and make a big profit with or without taxes
CA is beautiful.
Soon white people will have to pay higher taxes here too just for being white.
G36 saysCA is beautiful.
Not the last few times I've been.
WookieMan saysG36 saysCA is beautiful.
Not the last few times I've been.
ROFL. Better you stay away then.
just_passing_through saysSoon white people will have to pay higher taxes here too just for being white.
You do pay white tax. Just to be able to live with others of your own kind in safety with schools that are safe for your white kids you have to pay much more.
Patrick saysNot if the tax is deferred until they die or sell.
Then why bother selling. Put the house into a trust or LLC where it can't be sold but simply transferred by selling the LLC.
RC2006 saysWell, at the rate this country is going, we'll be paying the Jizya soon enough.just_passing_through saysSoon white people will have to pay higher taxes here too just for being white.
You do pay white tax. Just to be able to live with others of your own kind in safety with schools that are safe for your white kids you have to pay much more.
That depends on the place. Non whites pay much higher in my neighborhood.
Blue saysRC2006 saysWell, at the rate this country is going, we'll be paying the Jizya soon enough.just_passing_through saysSoon white people will have to pay higher taxes here too just for being white.
You do pay white tax. Just to be able to live with others of your own kind in safety with schools that are safe for your white kids you have to pay much more.
That depends on the place. Non whites pay much higher in my neighborhood.
So who is going to pay that accumulated tax then? The heirs? No. Because in most cases the tax arrears will be more than they can get out of the house. House prices will plunge, remember?
The heirs will simply walk away. That leaves the city or county being stuck with the property and they will sell it at an auction...for whatever they can get for it.
So who is going to pay that accumulated tax then? The heirs? No. Because in most cases the tax arrears will be more than they can get out of the house.
Once you hike a mile past trailhead the diapers, tortilla wrappers, and graffiti start to taper off.
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