[quote=ILoveRegulation]
I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.[/quote]
How do you figure? Say you bought a house today and your property tax is based on 400k. There is a limit how high it can go. Say in 20 years the property is worth 800k. You will be paying tax on 400k plus whatever limit there is on the incremental increase allowed by Prop 13. You will benefit. Anyone buying would benefit. Whereas people buying in 20 years will be paying tax on 800k.
So you think it would be fair if everyone pays on 800k and everyone pay a forever increasing property tax indefinitely?
Yeah. That’s fair. To government only.
One thing is certain is taxes. But we have to try to at least minimize how much they can tax us. Prop 13 does that.
