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This is exactly the issue I mentioned in a thread a couple weeks back. My 2/3 townhome in Pasadena has a larger tax bill than a giant monstrosity in the same neighborhood, valued at 5-6x. It's fucking ridiculous.
They should lower property taxes for every one and do away with prop 13.
It seems fairly simple to base taxes on market value. I mean, you pay sales tax on crap you buy at the supermarket, or Amazon, or whatever, based on their current market value. But no, for your house, you pay tax on that based on market value from the 70's. Horseshit.
Next time I go to trader Joe's for groceries, I'm going to insist that the sales tax be based on the market value of my carrots from the 70s.
It seems fairly simple to base taxes on market value. I mean, you pay sales tax on crap you buy at the supermarket, or Amazon, or whatever, based on their current market value. But no, for your house, you pay tax on that based on market value from the 70's. Horseshit.
Next time I go to trader Joe's for groceries, I'm going to insist that the sales tax be based on the market value of my carrots from the 70s.
It seems fairly simple to base taxes on market value. I mean, you pay sales tax on crap you buy at the supermarket, or Amazon, or whatever, based on their current market value. But no, for your house, you pay tax on that based on market value from the 70's. Horseshit.
Next time I go to trader Joe's for groceries, I'm going to insist that the sales tax be based on the market value of my carrots from the 70s.
Old people were thrown onto the street in the past because property taxes were higher than mortgages. And being old on fixed income is hard.
It seems fairly simple to base taxes on market value.
FortWayne saysOld people were thrown onto the street in the past because property taxes were higher than mortgages. And being old on fixed income is hard.
How about we keep common sense tax law then like Alaska does? At 65, a homeowner gets to pay 25% property tax until they die or sell the place. Retirees are thus protected without giving elites unnecessary tax breaks at the expense of everyone else. Prop 13 needs to go, and be replaced with something like this for retired folks.
DASKAA saysEvan F. saysIt seems fairly simple to base taxes on market value.
Yep. It's also very simple to jack them up. Look for threads re Illinois property tax situation on this very site.
Prop13 is a result of a tax revolt. Since then the conditions which caused said revolt did not disappear. If anything they became worse. We are now a one-party state govened by insane illegal-loving pinko fucks.
Prop 13 isn't even fully effective at limiting assessed tax growth. Total assessed taxes are still rising at uncontrollable rates, it's just that all of the burden is placed on new buyers and new construction.
See for example 8.71% YoY rise in assessment roll for SC County: https://www.sccassessor.org/DocLib/Annual%20Report15.pdf. Prop 13 was intended to limit assessments to 2%... that's not ...
ThreeBays saysIt might be imperfect but repealing it would make things much worse.
Repeal and replace :D
They could repeal Prop 13, cut the tax rate in half to remain revenue neutral, and introduce a growth cap at the county level instead of parcel level.
An elite group! Like my parents!
European immigrant food service workers who worked their fucking asses off to own a home and provide a better life for their kids. They sold me their home at market rate and I got to keep the property tax assessment from 1985. They never made over $25,000 per year living in coastal California. I'm fortunate that I'm able to have kept lower property taxes and send them money every month to help them out.
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