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NIMBY make-believe 'constitutional right' to outrageous gains in capital gains on their houses
An add additional tax on non owner occupied, foreign owned etc.One part-way solution would be to allow Prop 13 to be claimed ONLY on primary residence. If you're not occupying, it's not your primary residence. If not a citizen, the USA isn't your primary country and so house isn't your primary residence and so no Prop 13 (you're also not paying federal income tax on your income earned outside the USA, so you have a tax advantage in other areas of US citizens). If not a "person" (i.e. owned by a business) it's not a primary residence. If you claim out-of-state for evading CA income tax, it's not your primary.
Blue saysAn add additional tax on non owner occupied, foreign owned etc.One part-way solution would be to allow Prop 13 to be claimed ONLY on primary residence. If you're not occupying, it's not your primary residence. If not a citizen, the USA isn't your primary country and so house isn't your primary residence and so no Prop 13 (you're also not paying federal income tax on your income earned outside the USA, so you have a tax advantage in other areas of US citizens). If not a "person" (i.e. owned by a business) it's not a primary residence. If you claim out-of-state for evading CA income tax, it's not your primary.
One problem here: renters. If the prop tax is free to soar on rental properties, that increase will be passed along to renters, sending average rents soaring.
If the prop tax is free to soar on rental properties, that increase will be passed along to renters, sending average rents soaring.That's a good thing. Those 50-year "land hoarders" will sell their houses and people wishing to occupy will be able to buy. Prop 13 skewerse towards renters, which aren't really a great way to make a community.
cmdrdataleak saysIf the prop tax is free to soar on rental properties, that increase will be passed along to renters, sending average rents soaring.That's a good thing. Those 50-year "land hoarders" will sell their houses and people wishing to occupy will be able to buy. Prop 13 skewerse towards renters, which aren't really a great way to make a community.
SunnyvaleCA sayscmdrdataleak saysIf the prop tax is free to soar on rental properties, that increase will be passed along to renters, sending average rents soaring.That's a good thing. Those 50-year "land hoarders" will sell their houses and people wishing to occupy will be able to buy. Prop 13 skewerse towards renters, which aren't really a great way to make a community.
You may have trouble selling a house that already has a tenant with a locked-in rent, amid the backdrop of ever increasing prop taxes. No potential buyer would take that losing proposition.
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