[quote=UCGal]As I commented in another thread that you posted this… Why is this news? The way Prop 13 works, taxes go up around 2% every year. Even when property values go up 20%, even when property values decline 20%. Because prop 13 sets the assessed value at your purchase price, and increments it based on that… NOT on current market.[/quote]
It’s news ‘cuz it’s in the news. I added it here because the thread is about the advantages of renting over buying. As you pointed out, taxes always go up… So there’s argument #13 to rent.
