What will the repeal of Prop 13 do to the market?

[ILoveRegulation]

[quote=flu]
And if I were a landlord, I’d just pass the cost on to my tenant…Because everyone else would do it too… (what, you thought landlords would just eat the extra cost???)
[/quote]

You might as well be a landlord because you are as clueless as most of them. I know more than a few property managers who are managing properties for out-of-town landlords. Many of these landlords bought during the bubble, and there is no way they are ever going to recoup their costs. Most of them try to charge above-market rents and their rentals sit empty.

You see, there is this thing called the ‘market’ which has a major influence on rents. The market doesn’t care how much you pay in property tax it only cares what prospective renters can afford to pay in rent.

[sdrealtor]

Good point FLU about homeowners feelings toward prop 13 and exactly the one I was making though being snarky about it.

[sdrealtor]

Good point FLU about homeowners feelings toward prop 13 and exactly the one I was making though being snarky about it.

[sdrealtor]

Good point FLU about homeowners feelings toward prop 13 and exactly the one I was making though being snarky about it.

[sdrealtor]

Good point FLU about homeowners feelings toward prop 13 and exactly the one I was making though being snarky about it.

[sdrealtor]

Good point FLU about homeowners feelings toward prop 13 and exactly the one I was making though being snarky about it.

[SD Realtor]

BG the thing is that a line can be drawn anywhere with regards to prop 13. You seem to have a stick in your craw about elderly people who have barely any taxes. What about those homebuyers who bought in Scripps or 4S or Carlsbad or Encinitas in the late 90s before the bubble? Compared to all of the neighbors they have who bought in subsequent years, they are bandits.

As I said, if you guys study the proposition thoroughly the thing you all should be whining about is the benefits of the commericial ownership.

Better yet find some time to do some research in pretty much any neighborhood you want and go look at the tax assessment for a hundred properties, then come back and tell me the percentage of them living with a “I am making out like a robber assessment”.

In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime.

FLU had a good point that was naturally missed by everyone. It is a stark reality that nobody wants to face but is VERY TRUE. This state is overburdened and in the end cannot meet all of the obligations that it is incurring. You can raise the tax revenue all you want and this problem will not go away. The state is not shrinking and neither are the state obligations.

Nobody wants to say enough is enough. Until then, yeah go ahead and tax the hell out of everyone. We are not the most taxed state in the nation so lets go for it!!

[SD Realtor]

BG the thing is that a line can be drawn anywhere with regards to prop 13. You seem to have a stick in your craw about elderly people who have barely any taxes. What about those homebuyers who bought in Scripps or 4S or Carlsbad or Encinitas in the late 90s before the bubble? Compared to all of the neighbors they have who bought in subsequent years, they are bandits.

As I said, if you guys study the proposition thoroughly the thing you all should be whining about is the benefits of the commericial ownership.

Better yet find some time to do some research in pretty much any neighborhood you want and go look at the tax assessment for a hundred properties, then come back and tell me the percentage of them living with a “I am making out like a robber assessment”.

In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime.

FLU had a good point that was naturally missed by everyone. It is a stark reality that nobody wants to face but is VERY TRUE. This state is overburdened and in the end cannot meet all of the obligations that it is incurring. You can raise the tax revenue all you want and this problem will not go away. The state is not shrinking and neither are the state obligations.

Nobody wants to say enough is enough. Until then, yeah go ahead and tax the hell out of everyone. We are not the most taxed state in the nation so lets go for it!!

[SD Realtor]

BG the thing is that a line can be drawn anywhere with regards to prop 13. You seem to have a stick in your craw about elderly people who have barely any taxes. What about those homebuyers who bought in Scripps or 4S or Carlsbad or Encinitas in the late 90s before the bubble? Compared to all of the neighbors they have who bought in subsequent years, they are bandits.

As I said, if you guys study the proposition thoroughly the thing you all should be whining about is the benefits of the commericial ownership.

Better yet find some time to do some research in pretty much any neighborhood you want and go look at the tax assessment for a hundred properties, then come back and tell me the percentage of them living with a “I am making out like a robber assessment”.

In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime.

FLU had a good point that was naturally missed by everyone. It is a stark reality that nobody wants to face but is VERY TRUE. This state is overburdened and in the end cannot meet all of the obligations that it is incurring. You can raise the tax revenue all you want and this problem will not go away. The state is not shrinking and neither are the state obligations.

Nobody wants to say enough is enough. Until then, yeah go ahead and tax the hell out of everyone. We are not the most taxed state in the nation so lets go for it!!

[SD Realtor]

BG the thing is that a line can be drawn anywhere with regards to prop 13. You seem to have a stick in your craw about elderly people who have barely any taxes. What about those homebuyers who bought in Scripps or 4S or Carlsbad or Encinitas in the late 90s before the bubble? Compared to all of the neighbors they have who bought in subsequent years, they are bandits.

As I said, if you guys study the proposition thoroughly the thing you all should be whining about is the benefits of the commericial ownership.

Better yet find some time to do some research in pretty much any neighborhood you want and go look at the tax assessment for a hundred properties, then come back and tell me the percentage of them living with a “I am making out like a robber assessment”.

In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime.

FLU had a good point that was naturally missed by everyone. It is a stark reality that nobody wants to face but is VERY TRUE. This state is overburdened and in the end cannot meet all of the obligations that it is incurring. You can raise the tax revenue all you want and this problem will not go away. The state is not shrinking and neither are the state obligations.

Nobody wants to say enough is enough. Until then, yeah go ahead and tax the hell out of everyone. We are not the most taxed state in the nation so lets go for it!!

[SD Realtor]

BG the thing is that a line can be drawn anywhere with regards to prop 13. You seem to have a stick in your craw about elderly people who have barely any taxes. What about those homebuyers who bought in Scripps or 4S or Carlsbad or Encinitas in the late 90s before the bubble? Compared to all of the neighbors they have who bought in subsequent years, they are bandits.

As I said, if you guys study the proposition thoroughly the thing you all should be whining about is the benefits of the commericial ownership.

Better yet find some time to do some research in pretty much any neighborhood you want and go look at the tax assessment for a hundred properties, then come back and tell me the percentage of them living with a “I am making out like a robber assessment”.

In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime.

FLU had a good point that was naturally missed by everyone. It is a stark reality that nobody wants to face but is VERY TRUE. This state is overburdened and in the end cannot meet all of the obligations that it is incurring. You can raise the tax revenue all you want and this problem will not go away. The state is not shrinking and neither are the state obligations.

Nobody wants to say enough is enough. Until then, yeah go ahead and tax the hell out of everyone. We are not the most taxed state in the nation so lets go for it!!

[jpinpb]

[quote=bearishgurl]
As =<1978 original owners die, this law is no longer serving those it intended to protect, which was to keep the "over-65 fixed-income set" in their homes as long as possible. As the years pass, Prop 13 will only be "protecting" able-bodied persons of working age. How is this fair to "arms-length" market purchasers??[/quote]

B/c people who buy at the next peak will be paying higher taxes, but your tax base will be on your purchase prices plus the nominal increase allowed. Whereas, without Prop 13 your taxes will be much higher by the time we get to the next peak.

flu - I currently do not own a home, but I hope to own a home again. And I still think Prop 13 is a gift to California. It would be a pity to see it go away.

BG - I did also address the heir aspect. Considering the state of our economy, I think many of the heirs are going to want to sell and split the proceeds b/c they need the money themselves and have no interest in living in the outdated homes in old neighborhoods.

I happen to have a g/f right now that parents have passed away. She has a brother and sister. She was going to buy them out and live in the Prop 13 house. But in the end, she did not want to be in Chula Vista. You will be seeing another house on the market once they get it squared away. And mind you, she does NOT currently own a home nor has children. I think she's crazy and should keep it. But people are not me.

[quote=SD Realtor]In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime. [/quote]

Thank you!

[jpinpb]

[quote=bearishgurl]
As =<1978 original owners die, this law is no longer serving those it intended to protect, which was to keep the "over-65 fixed-income set" in their homes as long as possible. As the years pass, Prop 13 will only be "protecting" able-bodied persons of working age. How is this fair to "arms-length" market purchasers??[/quote]

B/c people who buy at the next peak will be paying higher taxes, but your tax base will be on your purchase prices plus the nominal increase allowed. Whereas, without Prop 13 your taxes will be much higher by the time we get to the next peak.

flu - I currently do not own a home, but I hope to own a home again. And I still think Prop 13 is a gift to California. It would be a pity to see it go away.

BG - I did also address the heir aspect. Considering the state of our economy, I think many of the heirs are going to want to sell and split the proceeds b/c they need the money themselves and have no interest in living in the outdated homes in old neighborhoods.

I happen to have a g/f right now that parents have passed away. She has a brother and sister. She was going to buy them out and live in the Prop 13 house. But in the end, she did not want to be in Chula Vista. You will be seeing another house on the market once they get it squared away. And mind you, she does NOT currently own a home nor has children. I think she's crazy and should keep it. But people are not me.

[quote=SD Realtor]In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime. [/quote]

Thank you!

[jpinpb]

[quote=bearishgurl]
As =<1978 original owners die, this law is no longer serving those it intended to protect, which was to keep the "over-65 fixed-income set" in their homes as long as possible. As the years pass, Prop 13 will only be "protecting" able-bodied persons of working age. How is this fair to "arms-length" market purchasers??[/quote]

B/c people who buy at the next peak will be paying higher taxes, but your tax base will be on your purchase prices plus the nominal increase allowed. Whereas, without Prop 13 your taxes will be much higher by the time we get to the next peak.

flu - I currently do not own a home, but I hope to own a home again. And I still think Prop 13 is a gift to California. It would be a pity to see it go away.

BG - I did also address the heir aspect. Considering the state of our economy, I think many of the heirs are going to want to sell and split the proceeds b/c they need the money themselves and have no interest in living in the outdated homes in old neighborhoods.

I happen to have a g/f right now that parents have passed away. She has a brother and sister. She was going to buy them out and live in the Prop 13 house. But in the end, she did not want to be in Chula Vista. You will be seeing another house on the market once they get it squared away. And mind you, she does NOT currently own a home nor has children. I think she's crazy and should keep it. But people are not me.

[quote=SD Realtor]In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime. [/quote]

Thank you!

[jpinpb]

[quote=bearishgurl]
As =<1978 original owners die, this law is no longer serving those it intended to protect, which was to keep the "over-65 fixed-income set" in their homes as long as possible. As the years pass, Prop 13 will only be "protecting" able-bodied persons of working age. How is this fair to "arms-length" market purchasers??[/quote]

B/c people who buy at the next peak will be paying higher taxes, but your tax base will be on your purchase prices plus the nominal increase allowed. Whereas, without Prop 13 your taxes will be much higher by the time we get to the next peak.

flu - I currently do not own a home, but I hope to own a home again. And I still think Prop 13 is a gift to California. It would be a pity to see it go away.

BG - I did also address the heir aspect. Considering the state of our economy, I think many of the heirs are going to want to sell and split the proceeds b/c they need the money themselves and have no interest in living in the outdated homes in old neighborhoods.

I happen to have a g/f right now that parents have passed away. She has a brother and sister. She was going to buy them out and live in the Prop 13 house. But in the end, she did not want to be in Chula Vista. You will be seeing another house on the market once they get it squared away. And mind you, she does NOT currently own a home nor has children. I think she's crazy and should keep it. But people are not me.

[quote=SD Realtor]In the end the complaint should really be what the hell is happening to the billions and billions of dollars in tax revenue. You are stepping over the dollar to get to the dime. [/quote]

Thank you!

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