Because CA undertaxes long-held properties, cities impose impact fees on new housing to compensate -- 40 yrs into a shortage. #prop13pic.twitter.com/JMeV2gkGLP
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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Because CA undertaxes long-held properties, cities impose impact fees on new housing to compensate -- 40 yrs into a shortage. #prop13pic.twitter.com/JMeV2gkGLP
we don't pay tax on market value of our stocks until we sell. It's only a paper value. Real estate works the same way, no?
when old assessments do not keep up w/ the cost of providing services.
I don't agree. My property taxes have gone up many times over the years to pay those expenses based on what I paid not future
are you in CA? We cap at max 2% per year or rate of inflation increase.
California 30 years same place 3 times what I paid initially from 2% compounding and ever expanding parcel taxes, etc
cost of providing services (and housing to workers who would provide those services) has moved a lot faster than that.
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