Comment by karlgkk
2 days ago
Many states have prop 13 style laws, and they’re fine. The key difference is that they kick in at retirement age.
2 days ago
Many states have prop 13 style laws, and they’re fine. The key difference is that they kick in at retirement age.
Kicking in at retirement age plus limiting it to a single owner occupied property is the key, IMO.
In California, it applies to multiple properties, you can pass it down to your children and it applies to property owned by businesses both commercial and industrial, which is absolutely crazy.
California has basically created a class of landed gentry.