Comment by thijson
1 year ago
1950-1975 property taxes in Baltimore increased 19 times. It's double the rate in neighboring Baltimore county. In the 2010's Baltimore was losing 500 residents per month. The city is in a death spiral.
1950-1975 San Francisco was in a similar situation, losing population. In 1978 prop. 13 passed and placed a cap of 1% on the property tax. Reducing it by 2/3's. A huge boom started. The overall revenue increased by 80% after a few years as the property values increased.
Two Baltimore residents talk about it here:
Respectfully, SF is known for a handful of things, wealth, tech, and people shitting on the sidewalk prominent among them.
So tell me, who won? I have a guess.