Comment by jltsiren
1 day ago
Multigenerational households were the norm until recently. The eldest son gradually took over the household and raised his family there, or something like that. Both because it would have been terrible waste to have an entire house for some old people, and because household chores were hard work before modern amenities.
It still happens.
The less wealthy the family, the more likely you'll see it.
So your aggressive taxes will hit those people - displacing additional generations, not just the land-owning-but-otherwise-fairly-poor retiree - before it will hit the stereotypical middle class boomer retiree.
Outside of CA's Prop-13 territory, the multi-generational shabby-old-home-owners pay less taxes currently than their richer neighbors who moved more recently and renovated or expanded. The land value of both is going up, but the improvement value is lower for the poorer family. So now you'll get rid of the improvement value and even it out for both, which will hit the poorer land owners the hardest.