Just getting started at the #Prop13 debate the Laborers Hall with:
Moderator @lilialuciano
Howard Jarvis Rep Quentin Kopp
Prop 13 Critic @kimmaicutler
And @evolve_capic.twitter.com/Ss56bAUWHS
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IANAE, but if there’s substantial equity in an asset, why can’t it be leveraged to, say, pay the tax bill? Why are the only options to pay taxes from direct income or sell the property?
Why force homeowners into more debt to pay a tax? It's not as if property tax is the only decent tax out there. At a minimum, add the unpaid tax as a property lien that's paid when the property is sold/transferred.
Prop 60 provides some relief if 55 or older. Prop 13 value can be transferred to another LOWER-VALUED property, but only if moving to 1 of 8 counties (not sure if list is still current): Alameda, El Dorado, Los Angeles, Orange, San Diego, San Mateo, Santa Clara and Ventura.
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