many not so rich old folks only remain in Palo Alto, greater Bay Area because of prop 13. If not, prop tax rate = sell, move.
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But also, part of the reason that things are so expensive is because Prop. 13 doesn't give any incumbent voter, owner any
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If anyone ever has doubts that Prop 13 does nothing other than protect very rich people, this should put those to bed.
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Even more damaging from viewpoint of intergenerational (in)equity than from viewpoint of public finances.
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what is SF effective rate and how is it ranked?
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