patrick.net

I am reading with amusement a lot of Prop 13 bashers going to town claiming that it is the reason for California's troubles and that it should be repealed! My thought is that a repeal of this statue will only force a lot of older home owners to sell their homes as they cannot afford the increased property taxes that would definitely be assessed if Prop 13 is repealed. This would bloat the already huge inventory and depress home prices further! The other category of home owners who would be affected would be the people who have inherited the property from their dead parents. They would also be putting the property in the market instead of paying the increased taxes, which would make it uneconomical for them to rent out the properties! So guys chill it till the home prices stabilize and then work on Prop 13!!