[quote=ILoveRegulation][quote=jpinpb]I don’t understand why people are still against Prop 13. There are few people who are paying low property taxes, especially after this last bubble. If we get rid of Prop 13, 20 years from now, anyone who has bought a house recently will be praying for today’s taxes IF values go up. IMO Prop 13 is just one more incentive for real estate in California. I always hear about the really high property taxes in NJ and NY. And they still have budget problems! Prop 13 really is a blessing in California, IMO. People should be thankful to have it, not trying to get rid of it.[/quote]
Proposition 13 is a horrible law. It allows for wealthy, old people to pay little tax and then suck like a leech off the income taxes of young workers. It’s really disgusting to me as it benefits the superrich who don’t do anything while penalizing productive young workers.
Those who have large estates should be paying the highest taxes as they are using up all the resources, but instead they are paying the least taxes. Plus, raising property taxes would cause the price of real estate to come down, benefiting young people.
Proposition 13 benefits the old and unproductive and should be abolished. Let’s abolish Proposition 13, raise property taxes, and lower income taxes. This would do nothing but make California more productive.[/quote]
Spot on. Prop 13 severely penalizes the people the state needs most: young adults that work and pay taxes. Prop 13 is a cluster f*** and a disaster.
Now here’s a bone for you tax hawks. I’m all for a readjustment of other taxation to account for the boon in property tax receipts we would see if Prop 13 is abolished. If an amendment were structured in such a way as to account for a rebalancing, then Prop 13 could be defeated.
And yes, Prop 13 is partially to blame for the sky rocketing real-estate prices in the state since it was enacted.
