Yes but people who bought new are subsidizing your comparatively low tax rates.
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Replying to @kimmaicutler @marymcnamara and
School bonds and parcel taxes proliferate in pt bc the base property tax doesn't support the schools, infrastructure
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actually no - add ons proliferate because of pension costs.
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"Next to the shrunken property tax bill on Prop 13's trophy shelf sits a gold-plated public pension." https://books.google.it/books?id=Y0GwjbFf_88C&pg=PA54&lpg=PA54&dq=gold+plated+proposition+13+pension+california+crackup&source=bl&ots=T8mbhbi6-s&sig=GdMZfUO1_jm_ttajyX1zNiwe43o&hl=en&sa=X&ved=0ahUKEwjhxNOYi5nVAhUkL8AKHf-BANUQ6AEIHDAA#v=onepage&q=gold%20plated%20proposition%2013%20pension%20california%20crackup&f=false …
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Did I not earlier say "vendetta" and "ageism" war - QED
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When people who are young pay 10X the property tax as older people who have the same property and when you are left with $300B in state
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you're not going to get anywhere w that argument. even my millennial kids like prop 13 b/c they can reliably plan for future expenditures.
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Then we'll just continue down this path of flames. You can keep the predictability while owning and then take it out of gains at sale.
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I have no quarrel w taxing gains. It makes no sense that real estate is exempt (to 500k) while a stock sale (for instance) is not.
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That's good! I understand the need for predictability which is why I'm generally supportive of RC for tenants and then predictable taxes for
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Owners. But the inflexibility to tax gains means we leave a lot of $$ on the table. It's bizarre how the discourse says Developers can't
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so the $$ left on the table are taxes on the 500k, since gains above 500k are taxed? I wonder how much $$ this represents.
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