California Special Election

[4plexowner]

there are issues with Prop 13 – it could well be reformed

commercial real estate very rarely gets re-assessed for tax purposes because of Prop 13 – the property is held inside a corp or LLC – the corp or LLC is sold but, the way Prop 13 currently works, the property held inside the corp / LLC DID NOT CHANGE HANDS and therefore no tax re-assessment is triggered

another injustice of Prop 13: person has owned residential real estate in CA for 30 years – tax increases on the property are limited by Prop 13 but the tenants living in those properties are paying rents based on TODAY’S cost of living which includes property taxes – ie, the long-term landlord is collecting today’s property taxes (in the form of rents) but only paying yesterday’s property taxes to the city – the landlord is shifting the burden of supporting those tenants onto the rest of the tax-payers

because Prop 13 limits the re-assessment of property values, cities try to expand their tax basis by building new sub-divisions, strip malls and big-box stores – thus we have the ever-expanding suburbs and all the commercial properties that now have ‘For Lease’ signs in their windows [stay tuned for the crash of the commercial real estate market – coming soon to a theater near you]

just making the point that Prop 13 is NOT just a symptom, it is one of the contributing factors to the economic woes being felt in CA right now

[meadandale]

[quote=4plexowner]there are issues with Prop 13 – it could well be reformed[/quote]

There are some inequities WRT prop 13 and non-residential property but with the way our state spends money, the minute the protection on the residential home owner is removed be prepared for a housing collapse that makes the current one look like a blip. We are in a severe recession and yet the fed, the state and the city are ALL raising taxes/fees and sticking it to the citizens. If you think that property taxes are any different you’re high.

Screw with prop 13 or the home mortgage interest deduction and I’m walking away from my house and I’m sure many feel the same way.

[meadandale]

[quote=4plexowner]there are issues with Prop 13 – it could well be reformed[/quote]

There are some inequities WRT prop 13 and non-residential property but with the way our state spends money, the minute the protection on the residential home owner is removed be prepared for a housing collapse that makes the current one look like a blip. We are in a severe recession and yet the fed, the state and the city are ALL raising taxes/fees and sticking it to the citizens. If you think that property taxes are any different you’re high.

Screw with prop 13 or the home mortgage interest deduction and I’m walking away from my house and I’m sure many feel the same way.

[meadandale]

[quote=4plexowner]there are issues with Prop 13 – it could well be reformed[/quote]

There are some inequities WRT prop 13 and non-residential property but with the way our state spends money, the minute the protection on the residential home owner is removed be prepared for a housing collapse that makes the current one look like a blip. We are in a severe recession and yet the fed, the state and the city are ALL raising taxes/fees and sticking it to the citizens. If you think that property taxes are any different you’re high.

Screw with prop 13 or the home mortgage interest deduction and I’m walking away from my house and I’m sure many feel the same way.

[meadandale]

[quote=4plexowner]there are issues with Prop 13 – it could well be reformed[/quote]

There are some inequities WRT prop 13 and non-residential property but with the way our state spends money, the minute the protection on the residential home owner is removed be prepared for a housing collapse that makes the current one look like a blip. We are in a severe recession and yet the fed, the state and the city are ALL raising taxes/fees and sticking it to the citizens. If you think that property taxes are any different you’re high.

Screw with prop 13 or the home mortgage interest deduction and I’m walking away from my house and I’m sure many feel the same way.

[meadandale]

[quote=4plexowner]there are issues with Prop 13 – it could well be reformed[/quote]

There are some inequities WRT prop 13 and non-residential property but with the way our state spends money, the minute the protection on the residential home owner is removed be prepared for a housing collapse that makes the current one look like a blip. We are in a severe recession and yet the fed, the state and the city are ALL raising taxes/fees and sticking it to the citizens. If you think that property taxes are any different you’re high.

Screw with prop 13 or the home mortgage interest deduction and I’m walking away from my house and I’m sure many feel the same way.

[Anonymous]

4plex:

You are brave to suggest any changes to Prop 13. Your points are reasonable, but they won’t be heard.

Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and, as your examples illustrate, has many negative side effects.

But none of that matters, because the anecdote about a little old lady losing her home will scuttle any possibility of an objective debate.

[Anonymous]

4plex:

You are brave to suggest any changes to Prop 13. Your points are reasonable, but they won’t be heard.

Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and, as your examples illustrate, has many negative side effects.

But none of that matters, because the anecdote about a little old lady losing her home will scuttle any possibility of an objective debate.

[Anonymous]

4plex:

You are brave to suggest any changes to Prop 13. Your points are reasonable, but they won’t be heard.

Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and, as your examples illustrate, has many negative side effects.

But none of that matters, because the anecdote about a little old lady losing her home will scuttle any possibility of an objective debate.

[Anonymous]

4plex:

You are brave to suggest any changes to Prop 13. Your points are reasonable, but they won’t be heard.

Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and, as your examples illustrate, has many negative side effects.

But none of that matters, because the anecdote about a little old lady losing her home will scuttle any possibility of an objective debate.

[Anonymous]

4plex:

You are brave to suggest any changes to Prop 13. Your points are reasonable, but they won’t be heard.

Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and, as your examples illustrate, has many negative side effects.

But none of that matters, because the anecdote about a little old lady losing her home will scuttle any possibility of an objective debate.

[meadandale]

[quote=pri_dk]
Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and
[/quote]

This is a bunch of crap. The assessed value of real estate in CA doubled between 2000 and 2007, yet the state still managed to outspend the doubling in property tax revenue.

Our state does not have a tax problem, it has a spending problem.

[meadandale]

[quote=pri_dk]
Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and
[/quote]

This is a bunch of crap. The assessed value of real estate in CA doubled between 2000 and 2007, yet the state still managed to outspend the doubling in property tax revenue.

Our state does not have a tax problem, it has a spending problem.

[meadandale]

[quote=pri_dk]
Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and
[/quote]

This is a bunch of crap. The assessed value of real estate in CA doubled between 2000 and 2007, yet the state still managed to outspend the doubling in property tax revenue.

Our state does not have a tax problem, it has a spending problem.

[meadandale]

[quote=pri_dk]
Prop. 13 has done a tremendous amount of damage to the state’s fiscal situation and
[/quote]

This is a bunch of crap. The assessed value of real estate in CA doubled between 2000 and 2007, yet the state still managed to outspend the doubling in property tax revenue.

Our state does not have a tax problem, it has a spending problem.

[Author]

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