“But they also benefit from an additional tax break, enacted eight years later, that extended those advantages to inherited property — even inherited property that is used for rental income. California is the only state to provide this tax break”
“In Los Angeles County, as many as 63% of homes inherited under the system were used as second residences or rental properties”
Eye opening
Classic case of depends on why side of the fence you are on
Inheritors will believe its a travesty to reset tax bills for family owned properties. Those who aren’t in that position will view it as criminal to have prop13 protection for inherited rental/2nd homes
And CA can continue to pick and choose winners and losers.
“But they also benefit from an additional tax break, enacted eight years later, that extended those advantages to inherited property — even inherited property that is used for rental income.
California is the only
state to provide this tax break”
“In Los Angeles County, as many as 63% of homes inherited under the system were used as second residences or rental properties”
Eye opening
Classic case of depends on why side of the fence you are on
Inheritors will believe its a travesty to reset tax bills for family owned properties. Those who aren’t in that position will view it as criminal to have prop13 protection for inherited rental/2nd homes
And CA can continue to pick and choose winners and losers.