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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in non-13 states, gentrification means that existing homeowners get pushed out.pic.twitter.com/dPYCT6Fza6
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Replying to @kimmaicutler @twliterary
Then there are reassessment issues. Also what happens when prices go up and then come down? Tax phantom gains?
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Replying to @calwatch @twliterary
you never tax phantom gains. Tech workers already taxed when they have to pay to acquire options.
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Replying to @kimmaicutler @twliterary
But if a $200k doubles, then drops back to $200k on sale, are we taxing for the years it was $400k? Is that fair?
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Replying to @calwatch @twliterary
well, what's the price when it's sold?
4:21 PM - 1 Aug 2016
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