Dilemma of all Bay Area cities. They all want the companies for the tax revenue to cover ballooning pension liabilities, but because of California's land-use & property tax system, the boom always gets absorbed by the existing property, land & homeowners & displaces the tenants.https://twitter.com/LibbySchaaf/status/973635071771947008 …
most other states have low-income deferrals and exemptions. California created too broad-based a cap that allowed office & commercial property owners to shirk tax responsibilities. https://dor.wa.gov/find-taxes-rates/property-tax/property-tax-exemptions-and-deferrals …
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Clearly proposition 13 cannot be blamed for lack of government funding: CA has had surpluses since 13 was implemented https://www.sfgate.com/politics/article/Good-news-California-Surplus-is-2-4-billion-4997158.php … Housing shortages & high prices are due to lack of construction Government pensions/Teachers Unions/corruption/waste uses up tax funds
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Do you think it’s fair to make an elderly person lose their home & all their assests because housing prices increase every year & their property tax bill also increases year to year until they can’t pay?