You mean they are trying to undo the damage wrought by Howard Jarvis and his scheme to increase profits for landlords and other large-scale land owners…all at the expense of taxpayers.
You take money from one place, it has to come from another. One of the main reasons (I would argue THE main reason) why state income taxes are so high in California is because of Prop 13.
Prop 13 protection should only be allowed for a SINGLE, PRIMARY residence (possible exemption for a granny flat or guest house on the same property if under a certain size). Landlords should not force taxpayers to subsidize their profits, nor should owners of large tracts of land (like Pardee), or owners of large commercial/industrial properties.
The guy in the video is a simpleton. The reason the owned/rented ratio for residential properties has gone down so much is because of Prop 13, as this tax break makes rental “investments” (especially those held over many years) very profitable…thanks to the taxpayers who subsidize these profits.
I would also consider giving a break to owners of a SINGLE commercial/industrial property, up to a certain size, IF they were using the property to run their own business (no leases).
