1) Land tax. Low property taxes that Californians voters passed in 1978 got capitalized into higher housing values.https://twitter.com/AaronPeskin/status/760238274384236544 …
-
-
in non-13 states, gentrification means that existing homeowners get pushed out.pic.twitter.com/dPYCT6Fza6
2 replies 0 retweets 1 like -
-
Replying to @kimmaicutler @twliterary
Then there are reassessment issues. Also what happens when prices go up and then come down? Tax phantom gains?
2 replies 0 retweets 0 likes -
Replying to @calwatch @twliterary
you never tax phantom gains. Tech workers already taxed when they have to pay to acquire options.
1 reply 0 retweets 0 likes -
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?
3 replies 0 retweets 1 like -
Replying to @calwatch @twliterary
if it was sold at the same price it was bought, 200K, I don't see why it would be taxed at that level.
1 reply 0 retweets 0 likes -
Replying to @kimmaicutler @twliterary
But you wanted to collect taxes on property values during ownership, i.e. the integral of the gains.
2 replies 0 retweets 0 likes -
You would have to set the value at each interval - which would be disputed vigorously by some - ...
3 replies 0 retweets 0 likes -
and waive taxes if the prices ended up looking like a sine function?
2 replies 0 retweets 1 like
part of the reason CA housing is so attractive an investment is because we have one of the lowest (and capped)
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.