Tired of "Progressive" boomers with multimillion dollar homes, paying nothing in property taxes, telling POC & young people how SF should behttps://twitter.com/hanlonbt/status/793520112074567680 …
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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Kim-Mai Cutler Retweeted Brian Hanlon, Prop 15 Supporter
Tired of "Progressive" boomers with multimillion dollar homes, paying nothing in property taxes, telling POC & young people how SF should behttps://twitter.com/hanlonbt/status/793520112074567680 …
Kim-Mai Cutler added,
how do they avoid paying property taxes?!? This place is wild
Prop. 13. The long report is here: http://www.lao.ca.gov/Publications/Report/3497 …
quick reading of that doc and that property taxes are assessed for what you bought a place for, not its current value
if I read that right (I have a billion tabs open haha)
yes, Detroit's the opposite. @raschuetz and I collaborated on a chart once that I need to incorporate into a post sometime.pic.twitter.com/gyKzgDSpdk
Detroit's effective tax rates are high, which depresses property values. California is the opposite.
and you've got this weird tax situation, too, where we see people's property taxes (delinquent, etc) > home value
nothing more for services, infrastructure. Totally incentivizes people to park a disproportionate amt of capital into RE
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