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

[ILoveRegulation]

[quote=jpinpb]
I strongly believe that if they got rid of Prop 13, they’re not going to reduce the income tax. That is mind bending to even contemplate.
[/quote]

I don’t really care whether the state reduces the income-tax rate. I just don’t want to pay a 10% income-tax rate while some retired person in La Jolla is paying virtually nothing in taxes. Further, if I go buy that exact same property, then I would have to pay a sky-high tax rate. That is an inherently unfair tax policy.

[quote=jpinpb]
Also someday you will be old, too, and you will be thankful that Prop 13 is allowing you to keep a lid on your taxes.
[/quote]

Nope. I don’t want to benefit from an unfair tax policy. There are some people who want all the tax breaks they can get. I’m not one of those people. I wouldn’t want someone to subsidize my ownership of a property. How is that fair to the person doing the subsidizing? How are they benefiting?

[quote=jpinpb]
Anyone that owns a home benefits from Prop 13. I think renters do, too. If property taxes are high, certainly landlords will pass the bill to the renter in the form of higher rent.
[/quote]

Landlords can’t just pass all their costs on to renters. I addressed this in a previous post. There are several landlords in San Diego who have no hope of ever recouping their costs because the rental market won’t support the rents they need to just break even.

[quote=jpinpb]
Nobody kid anyone here and don’t kid yourself. We are all lucky to have Prop 13.[/quote]

I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.

[jpinpb]

[quote=ILoveRegulation]
I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.[/quote]

How do you figure? Say you bought a house today and your property tax is based on 400k. There is a limit how high it can go. Say in 20 years the property is worth 800k. You will be paying tax on 400k plus whatever limit there is on the incremental increase allowed by Prop 13. You will benefit. Anyone buying would benefit. Whereas people buying in 20 years will be paying tax on 800k.

So you think it would be fair if everyone pays on 800k and everyone pay a forever increasing property tax indefinitely?

Yeah. That’s fair. To government only.

One thing is certain is taxes. But we have to try to at least minimize how much they can tax us. Prop 13 does that.

[jpinpb]

[quote=ILoveRegulation]
I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.[/quote]

How do you figure? Say you bought a house today and your property tax is based on 400k. There is a limit how high it can go. Say in 20 years the property is worth 800k. You will be paying tax on 400k plus whatever limit there is on the incremental increase allowed by Prop 13. You will benefit. Anyone buying would benefit. Whereas people buying in 20 years will be paying tax on 800k.

So you think it would be fair if everyone pays on 800k and everyone pay a forever increasing property tax indefinitely?

Yeah. That’s fair. To government only.

One thing is certain is taxes. But we have to try to at least minimize how much they can tax us. Prop 13 does that.

[jpinpb]

[quote=ILoveRegulation]
I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.[/quote]

How do you figure? Say you bought a house today and your property tax is based on 400k. There is a limit how high it can go. Say in 20 years the property is worth 800k. You will be paying tax on 400k plus whatever limit there is on the incremental increase allowed by Prop 13. You will benefit. Anyone buying would benefit. Whereas people buying in 20 years will be paying tax on 800k.

So you think it would be fair if everyone pays on 800k and everyone pay a forever increasing property tax indefinitely?

Yeah. That’s fair. To government only.

One thing is certain is taxes. But we have to try to at least minimize how much they can tax us. Prop 13 does that.

[jpinpb]

[quote=ILoveRegulation]
I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.[/quote]

How do you figure? Say you bought a house today and your property tax is based on 400k. There is a limit how high it can go. Say in 20 years the property is worth 800k. You will be paying tax on 400k plus whatever limit there is on the incremental increase allowed by Prop 13. You will benefit. Anyone buying would benefit. Whereas people buying in 20 years will be paying tax on 800k.

So you think it would be fair if everyone pays on 800k and everyone pay a forever increasing property tax indefinitely?

Yeah. That’s fair. To government only.

One thing is certain is taxes. But we have to try to at least minimize how much they can tax us. Prop 13 does that.

[jpinpb]

[quote=ILoveRegulation]
I disagree. Long-time homeowners are lucky to have proposition 13, but no one else benefits from it.[/quote]

How do you figure? Say you bought a house today and your property tax is based on 400k. There is a limit how high it can go. Say in 20 years the property is worth 800k. You will be paying tax on 400k plus whatever limit there is on the incremental increase allowed by Prop 13. You will benefit. Anyone buying would benefit. Whereas people buying in 20 years will be paying tax on 800k.

So you think it would be fair if everyone pays on 800k and everyone pay a forever increasing property tax indefinitely?

Yeah. That’s fair. To government only.

One thing is certain is taxes. But we have to try to at least minimize how much they can tax us. Prop 13 does that.

[SD Realtor]

“I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?

[SD Realtor]

“I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?

[SD Realtor]

“I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?

[SD Realtor]

“I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?

[SD Realtor]

“I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?

[an]

[quote=SD Realtor]”I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?[/quote]
Yep, by his argument of wanting a fair tax policy in which no group is subsidizing another group, we all should be paying the same amount of income tax then.

[an]

[quote=SD Realtor]”I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?[/quote]
Yep, by his argument of wanting a fair tax policy in which no group is subsidizing another group, we all should be paying the same amount of income tax then.

[an]

[quote=SD Realtor]”I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?[/quote]
Yep, by his argument of wanting a fair tax policy in which no group is subsidizing another group, we all should be paying the same amount of income tax then.

[an]

[quote=SD Realtor]”I’m not blaming anyone. I just want a fair tax policy in which no group is subsidizing another group.”

You cannot be serious with that response can you? The entire high wage earning tax base subsidizes the rest of the country. Your taxes are basically subsidies for low income families, welfare, people who are not in the country legally getting health care and education.

Give me a break please! That old wealthy person who is getting a break on property taxes is not the reason the state is in the crapper.

Do you REALLY THINK that will solve the problem? Really?[/quote]
Yep, by his argument of wanting a fair tax policy in which no group is subsidizing another group, we all should be paying the same amount of income tax then.

[Author]

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