When your assets appreciate, you should pay more in taxes. It's how all assets should be taxed.
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Not all appreciations count the same. If it's caused by stagflation, I haven't gained anything. And who assesses the property?
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Name the last year inflation broke the target. Every other state manages to do this
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Replying to @WatsonLadd @SFyimby and
Every state does this badly. Fiscalization of land use a national problem.
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Badly? And what do you mean by fiscalization? Of course, some areas have not seen massive gains to SFH owners because they legalized apps.
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Replying to @WatsonLadd @SFyimby and
Munis in every state are constantly chasing revenue. Housing is a 3rd rail everywhere. But no prop 13.
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Chicago and Houston permit far more housing per pop then bay area cities. Prop 13 is uniquely revenue distorting
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Replying to @WatsonLadd @SFyimby and
Houston and Chicago are extreme outliers. And have you peeked at Chicago's finances?
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Moreover there is a moral component: high housing costs harm poor families most
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Replying to @WatsonLadd @kookie13 and
OTOH Black and Latino Austinites are being gentrified out due to rising property taxes. Or evict my mom out of her disabled friendly home.
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Create an income exemption or deferral like other states do
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