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only works if the real estate market reverts closer to a 2% pricing gain in the long run
revenue from the 1 percent property tax rate has grown at an average annual rate of 7.3 percent.”
How is that possible?
krc saysbasic jealousy
Yes, yes, I know: F*ck Off, I got mine. Screw your ass. You're just jealous.
Thanks to Mr. Mark Zuckerberg for the initiate.
1978 Prop 13 = Go and rob all your neighbors legally through the government by "accusing" the government to keep robbing.
Look at your neighbors taxes:
https://www.officialdata.org/ca-property-tax/
In this rare instance Mark Fuckerberg is right, prop 13 has been a huge disaster gutting public funding for California. The entire thing should be repealed, all of it. Having to move away isn't the worst thing that can happen, haha it might be the best.
They should imo limit number f times property taxes can be inherited.If you mean limit it to 0, then sure! A single inheritance would push the "fix" off for an additional 30 years. California will simply not last long enough to see that happen.
Thanks to Mr. Mark Zuckerberg for the initiateI've got a much better way that The Zuck could help: stock should be marked to market yearly and taxed on the paper gains (with some holdback in case of a subsequent stock slump). Plus, income taxes should be paid on any money going to a foundation (slush fund) or other tax-avoidance scheme.
Commercial property should not be exempt from property tax increases because businesses can live forever, never resetting their tax basis.
Patrick saysCommercial property should not be exempt from property tax increases because businesses can live forever, never resetting their tax basis.
Fuck! California already has one of the most unfriendly private business environments in the country. And that's despite Prop 13. Prop 15 will just accelerate the bloat in the most bloated public sector in the US. Don't hold your breath waiting for those trickle down tax dollars to make it to you..
NuttBoxer saysPatrick saysCommercial property should not be exempt from property tax increases because businesses can live forever, never resetting their tax basis.
Fuck! California already has one of the most unfriendly private business environments in the country. And that's despite Prop 13. Prop 15 will just accelerate the bloat in the most bloated public sector in the US. Don't hold your breath waiting for those trickle down tax dollars to make it to you..
No kidding. What are some of the commenters on this site thinking? Businesses are already fleeing at record rates thanks to high taxes along with retarded Democrat regulations and COVID restrictions.
Raise your hand if you think California's manifest problems is that we aren't taxed high enough?
I understand the arguments how Prop 13 distorts market ...
Fortwaynemobile saysThey should imo limit number f times property taxes can be inherited.If you mean limit it to 0, then sure! A single inheritance would push the "fix" off for an additional 30 years. California will simply not last long enough to see that happen.
you will have more and more homeless shitting on the streets
I've got a much better way that The Zuck could help: stock should be marked to market yearly and taxed on the paper gains (with some holdback in case of a subsequent stock slump). Plus, income taxes should be paid on any money going to a foundation (slush fund) or other tax-avoidance scheme.
I don’t care about my neighbors taxes. I’m not operating from jealousy, and yes I pay more than my old neighbors.
I’m for repealing Prop13 completely and then issuing a new law that clamps property tax on primary residences owned by senior citizens at 25% of normal rate.
That’ll take care of the “evicting grandma” argument while turning the tax skate trust fund babies into tax payers.
Housing will stay scarce and inflated
How did Prop 13 "gut" public funding when we are easily in the top 5 per capita for highest tax burden? (by state)
Property taxes are used to pay for public graft. Ever wonder why California has the worst roads in the nation but the richest 'public servants'?
Property taxes are used to pay for public infrastructure. Ever wonder why California has the worst roads in the nation?
Every man and woman should be equal under the law.
Prop 13 breaks this ideal and favors the old and the wealthy over the young and the working class.
You can't do that by letting lopsided - some would say crooked - propositions stand. It doesn't work. Housing will stay scarce and inflated and you will have more and more homeless shitting on the streets and more and more families cramming 10+ people into a 4 bedroom house, crime etc.
That said, bail faster. I'll like vote yes on Prop 15 to split the tax roll.
mell saysYou can't do that by letting lopsided - some would say crooked - propositions stand. It doesn't work. Housing will stay scarce and inflated and you will have more and more homeless shitting on the streets and more and more families cramming 10+ people into a 4 bedroom house, crime etc.
That's due to central banking and fiat currency, combined with the largest public sector in the nation.
But maybe you can explain to me how giving more of my money to politicians makes my life better?
I'm advocating against prop 13 and would instead lower all property taxes an ban tax raises for years to come.
Property taxes are used to pay for public infrastructure. Ever wonder why California has the worst roads in the nation?
krc saysHow did Prop 13 "gut" public funding when we are easily in the top 5 per capita for highest tax burden? (by state)
Property taxes are used to pay for public infrastructure. Ever wonder why California has the worst roads in the nation?
California outspends per student South Korea, Singapore, Finland, Switzlerand and a whole lot of other nations that produce way superior results in educational output.
So, so much for THAT bullshit.
CA has the worst roads
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I agree with Zuckerberg on this one.
Commercial property should not be exempt from property tax increases because businesses can live forever, never resetting their tax basis.