[quote=bearishgurl][quote=CA renter]OTOH, while I support Prop 13, it should not be inherited UNLESS the heirs choose Prop 13 protection over stepping-up the cost basis on the house. If the cost basis is stepped up, then the property taxes should be stepped up as well.[/quote]
Actually, CAR, I kind of like this idea. As it stands, these “heirs” are having their cake and eating it, too.[/quote]
Yes, you are correct. And I absoltuely agree that the double-dipping (inheriting Prop 13 protection AND also being able to step-up the cost basis) is very, very wrong. One, or the other, the heir should have to choose.
