If I had more time... write a script which compares the current property taxes paid compared to what the taxes would be if asssessed at its current value, and sort addresses by the difference, descending. All the data is public.
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Check out this example in San Francisco. The owner’s Prop 13 subsidy on their $13.2 million house is $150,434 per year (they pay just $3,802 in taxes each year right now).pic.twitter.com/4cnwGqD2RR
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Meanwhile, someone who just bought a 400-square-foot condo for $475k pays almost 2x the property taxes ($6,400 a year) as the owner of a $14 million 9-bed mansion thanks to Prop 13.
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see also: golf courses
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There’s so much room for more people in our cities before we need to build on green space
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This an egregious example. By your logic, most people who are either retirees or close to retirees would be forced out of their homes. It would be a punitive situation for homeowners.
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This is the property tax bill for a $14 million house. What’s punitive to older folks not being able to move because they’re locked in at tax rates based on where they live and housing prices have skyrocketed due to restrictions on housing supply.
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The moment that property is sold, it will be taxed based on the selling price. I bought my house at 231K, it’s now worth 800K, I would NOT have been able to keep up with the tax increases without Prop 13. And property taxes in CA are currently the most reliable revenue.
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A good way to keep property taxes low when they’re based on home values is to build enough housing so prices stay low.
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Now imagine that one of those teachers is the owner, they would need to move out
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I don’t think they’d be living in a $15 million house
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Čini se da učitavanje traje već neko vrijeme.
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