This is what an absurd California housing crisis looks like. Repeal Prop 13 — a tax revolt by conservatives who were sick of paying for good California public schools, which now punishes non-landowners, the poor, and the young... Hard to imagine a more regressive policy.https://twitter.com/jedc/status/969992892847550464 …
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why would you not support repealing
#Prop13 if, as you've written for years, it is key to California's housing problem by disincenting approval of new or sale of existing homes, and creates major inequity for younger & newcomer homebuyers? https://twitter.com/kimmaicutler/status/970013895833174016 …@garrytan -
The other option Cutler suggested was postponing the added taxes and charging them in arrears on sale, but that means that homeowners would be even less likely to sell, and in situations where property values drop those taxes are never recovered.
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Even increasing the Prop 13 growth rate from 2 to 3% would have a very significant impact on revenues and equity and still give owners predictability.
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The growth rate was actually CPI or 2% whichever is lower. Since CPI in the 70’s was 5% or more.
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