It’s absurd that SF spends so much time arguing over the allocation of the ~2,000 we units we build a year while owners of the existing ~400K housing units generally see their assets appreciate by $130 *billion* a year. https://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/01/san-francisco-home-values-zillow.html …https://twitter.com/emilymbadger/status/1155817124541206528 …
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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How would you answer the idea that it's six/half a dozen because, in places like SF, Prop. 13 keeps middle-income (if house-rich) hangers-on in town and thus slows wealth-washing—preserving more diversity of interests at the polls (and elsewhere) than you'd get post-reassessment?
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There are many diverse, Blue states that don't have California's property tax system?
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A major potential downside of repealing prop 13 now would be landlords passing the tax increases onto renters of older apartments and single family homes. Could lead to massive rent hikes and displacement. A statewide annual rent increase cap would need to be implemented first
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@kimmaicutler Have you heard of any talk to mitigate this? If my landlords annual property tax doubles from $12k to $24k, they are going to want to increase my rent by $1000/mo to maintain their profit margin. An example of how once a policy is in place, hard to ever repeal. - 5 more replies
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Not just SF... up and down the Peninsula as well... possibly all of California.https://twitter.com/nextdoorsv/status/1006341631929245697 …
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the old eat the young
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Well, old call themselves the "alpha species" so...https://twitter.com/nextdoorsv/status/1121847740554776576 …
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Boy do they; I pay ridiculous taxes so my neighbors who’ve lived here longer can pay less than me. That totally makes sense. And everyone just accepts it as part of the natural order.
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And don’t get me wrong, I am not an anti-tax crusader by any means. However when I pay 3x the tax of someone whose house is 4x the value, and we have a dysfunctional culture that eats taxes in years of planning and property costs to do anything for improvements, something stinks
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