1) Land tax. Low property taxes that Californians voters passed in 1978 got capitalized into higher housing values.https://twitter.com/AaronPeskin/status/760238274384236544 …
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Then there are reassessment issues. Also what happens when prices go up and then come down? Tax phantom gains?
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you never tax phantom gains. Tech workers already taxed when they have to pay to acquire options.
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