patrick.net

It should be noted that prior to prop 13 the taxes were also not equitably distributed as well. This was because the assessment process was a combination of random assessments and rotational assements. Your home could get reassessed while your neighbors stayed at a lower assessment. So uneven taxation existed in the pre-prop 13 world.

To be equitable, assessments should be done on all homes in the same year, so that everyone is assessed under the same market conditions and relative value levels. Many communities do it precisely this way.

Surfer-X:

I am pretty sure that Larry Stone will lower the property tax as the value declines. Check out this article from 2003: http://tinyurl.com/fzc9x

Property values dropped a few years ago and it was hardly noticed. I was just like most of you renters for over 13 years here in BA. My income finally rose to the point where I could afford a traditional 30-yr fixed with 10% down. I'm in it for the long haul. It is not without risk, but I got what I wanted and I'm not hurting. This whole blog just shows me that there is still plenty of pent up demand in RE. You have to accept that our parents struggled to buy a house. It isn't easy. The current market is out of control, but it won't go down as much as many here hope.

very nice blog.

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