to be fair tho, SB50 proponents talk about Prop 13 a lot
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Replying to @bedwardstiek @uhshanti
let's take the benefits of agglomeration effects that get disproportionately captured by land owners and distribute it for low-income housing (without obviously destabilizing folks in primary residences, maybe capture at sale)
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Replying to @kimmaicutler @uhshanti
So repeal prop 13 but grandfather home dwellers?
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Replying to @bedwardstiek @uhshanti
Exempt primary residences or defer until capture at sale. You would also need to figure out something for tenant inhabited buildings so ever rising property taxes don’t conflict with (stabilized?) rents... etc
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Replying to @kimmaicutler @uhshanti
Capture as in step up the tax rate upon sale, or capture as in tax away most of the sale price?
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Replying to @bedwardstiek @uhshanti
Not sure! Other states practice deferral programs.
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Tax land/property for affordable housing. Tax income/other types of wealth for services.
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Replying to @kimmaicutler @uhshanti
Why the bright line? Services enhance land value, so land taxes seem like a good way to pay for them. Income stratification increases need for affordable housing, so progressive income taxes seem like a good way to pay for it.
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Replying to @bedwardstiek @uhshanti
we have other very expensive things to do with income taxes. Like healthcare, childcare, K-12 education, higher ed.
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I also don't think people understand the sheer scale of housing relative to all other expenditures. SF residential real estate can go up by the value of 2 Ubers in a single year.https://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html …
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