I see San Francisco is one of the few areas of the state that would vote no on it. I guess we would all pay for it in higher prices.
If I am reading that right, I believe it refers back to the initial 1978 vote on Prop 13…
The results of the 1978 Prop 13 vote, with favorable counties in green.
I’d like to see another condition to go with the proposal that if this passes, the 1% state property tax rate should be adjusted down so that the total revenue from all properties remain the same before/and the change.
It’s not a good thing to suddenly give the government a lot of fresh powder. The money will not be well spent, and it will cause more liabilities down the road.
Tax increase by means of division and conquer. Don’t be fooled.
Maybe in a few years there will be an amendment for residential buildings too? I personally do not like Prop 13 and do wish to see it phased out slowly. How the government spends the extra revenue is a completely different matter though.
If you don’t like prop 13, you can also propose eliminating property tax altogether. How the government spends the reduced revenue is a totally different matter though
If you don’t like prop 13, you can also propose eliminating mortgage interest rate deduction altogether. How the government spends the increased revenue is a totally different matter though.
maybe prop 13 will bring re prices down! or not! ba prices defy gravity!
Lol. So many revenue suggestions.
Simple. Gradually increase property tax and decrease income tax such that total state revenue remains the same, with inflation adjustment.
i think @wuqijun would be fine with prop13 going away.
That would be great for renters.
CA needs prop 13 to protect people from runaway local government spending. Even with prop 13, property tax revenue is increasing by 5%+ a year.
Rents will increase. Combine this with rent control, and yoy have a winner to stop re speculation in the bay
According to my smart brain, take down prop. 13
We want a free market, right?
You realize that without prop 13 you wouldn’t be able to afford your home. You’d have to leave California.
Or high inventory would make it more affordable.
The lower income homeowners require prop 13 to keep their home. It’s become unrealistic to attack prop 13.
We have to reject the divide and conquer tactic. They will first target commercial property, then millionaires, then 250k earner, then 100k earner, then 50k earner. Don’t leave any vulnerability to them