Have you seen analysis in SF showing vacancy rate vs actual real estate tax rate? Not sure if data is available to parse this, but, for example, I'd guess the many commercial vacancies in my Cow Hollow neighborhood have long-term/family ownership where tax rates are minuscule.
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SF, from the research I've done, doesn't seem to have a handle on vacancy rates and doesn't know how to find out. Vancouver used utility usage as a proxy for vacancy. Unsure why SF cannot do the same.
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property values are reassessed every year in BC, so property taxes are fairer between neighbors (in Canada, between neighbours) .. and somehow people don't have to sell their homes as the property values and taxes rise (re: prop 13 fears)
Thanks. Twitter will use this to make your timeline better. UndoUndo
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“If I got to lose 200 or 300 grand to keep the kids and the future of this place, so be it."
I’m an Oakland resident and I’m totally okay with this. I would happily pay more property taxes if it meant investment in schools and housing for all.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Almost none of the new construction is in purpose-built rentals. All in condos (many, maybe most at this point, rented out, and I don’t believe condos are rent-controlled when rented out)
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Little fact check: Vancouver property tax rate is currently ~0.25% The rate has also dropped for the last 3 consecutive years
http://vancouver.ca/home-property-development/residential.aspx …
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Honestly I don't know how you do that in California. I mean I'm as progressive as they come but even I'm not going to take a haircut of 1/4 of the value of my home lightly, especially since it's not built equity - I just bought last year.
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Anyone saying they could spare 200-300K for their principles' sake, I'm thinking, has the money to spare or it's money they could get selling their house at this peak on top of what they paid for their home.
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