Assumes heirs are able to pay estate tax and/or wish to co-own their parents' home in perpetuity. Most homes in this category are sold.
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1) federal estate tax threshold is $11M for a married couple. 2) they may have no choice bc there's no supply! https://www.forbes.com/sites/ashleaebeling/2016/10/25/irs-announces-2017-estate-and-gift-tax-limits-the-11-million-tax-break/#10129ec03b70 …
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Agreed. Sadly, the political landscape is too clouded to address it. Wkd for REIT that maintained 100s of entities to avoid reassessment
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I kind of feel like no one understands municipal taxation anywhere in North America
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We need a land value tax, like yesterday
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what percent of voters have ever even heard of Prop 13? I would bet big money it's <10%
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Totally correct. I will say that some of us oldsters knew it would be a disaster way back when. But it has been a slow-motion wreck.
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Literally legislated the creation of a landed gentry, it's astonishing.
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I was in 6th grade when prop 13 passed. I saw programs that my older sisters had enjoyed disappear when it was my turn.
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That's the saddest part... w/o those taxes, they raise taxes and funds in other ways that rly affects the low income folks hard.
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