Prop 13 reform to be on 2020 ballot (real estate, 2014, mortgage)

[alliance]

Originally Posted by Elliott_CA

Funny how conservatives think in such simple terms. Raise the minimum wage a dollar, prices have to go up a dollar. Increase a tax on a business a dollar, prices have to go up a dollar.

They have no clue how modern economics work nor the complex realities of the current marketplace.

Define irony.

[Mr5150]

Originally Posted by V8 Vega

This is just the start to undo prop. 13. next is your house taxes which will quickly become so high no one will want to live here so your house value will drop like a rock and no one will buy. You idiots keep voting for Democrats, so you pay and pay and pay, I'm glad I'm old

House value drops. CA becomes affordable. Property taxes drop to prop 13 amounts. I love your logic!

[CarawayDJ]

Originally Posted by Elliott_CA

Funny how conservatives think in such simple terms. Raise the minimum wage a dollar, prices have to go up a dollar. Increase a tax on a business a dollar, prices have to go up a dollar.

They have no clue how modern economics work nor the complex realities of the current marketplace. Ask them what the price elasticity of demand is or what the substitution effect is and they go "huh?" Sad really.

Funny how liberals think in such simple terms. Raise the cost of doing business and the consumer sees no increase.

Obviously the real answer is more complicated and lies somewhere in-between. I'm sure you know that. Probably fair to say that "in general", conservatives overstate the impact on consumers and liberals understate the impact. I do believe that voters don't have an appreciation for the cumulative effects of all these "one by one" tax increases. They look at these bills in isolation and don't believe they will have much of an impact on them personally. They fail to realize that all of these little increases add up.

[CarawayDJ]

Originally Posted by Mr5150

House value drops. CA becomes affordable. Property taxes drop to prop 13 amounts. I love your logic!

Home values drop, property taxes remain the same or go a bit higher. That's what is more likely to happen. I once entertained moving to Naperville, IL. I was shocked to see how reasonable home prices were. Great schools, safe, close to Chicago. I'd see a nice beautiful home with a price tag that didn't seem to match the house. And then I figured out the mystery. Property taxes. That same pattern can be found in NY, CT, NJ, MA and others.

One of the things that stood out to me when I moved to Europe is how starkly different their attitudes towards property taxes are. They have plenty of taxes over here. Everyone pays and pays a lot. Most of the countries have very low, almost laughable property taxes though. The general attitude is to keep your hands off of my house. Consequently, when people retire they don't need to sell their homes due to high property taxes. Nobody should ever have to sell their home and move because they get taxed out of their house. They typically pay a sales tax when they buy a house and then pay relative peanuts annually.

I'm befuddled by the view that one's house should be a piggy bank for the government. You'd think your house and home would be off limits. Even my home state of NH has it all backwards. They'd rather pay through the teeth for property taxes than pay a tax on a flashlight.

[Katera]

Originally Posted by CarawayDJ

Home values drop, property taxes remain the same or go a bit higher. That's what is more likely to happen. I once entertained moving to Naperville, IL. I was shocked to see how reasonable home prices were. Great schools, safe, close to Chicago. I'd see a nice beautiful home with a price tag that didn't seem to match the house. And then I figured out the mystery. Property taxes. That same pattern can be found in NY, CT, NJ, MA and others.

One of the things that stood out to me when I moved to Europe is how starkly different their attitudes towards property taxes are. They have plenty of taxes over here. Everyone pays and pays a lot. Most of the countries have very low, almost laughable property taxes though. The general attitude is to keep your hands off of my house. Consequently, when people retire they don't need to sell their homes due to high property taxes. Nobody should ever have to sell their home and move because they get taxed out of their house. They typically pay a sales tax when they buy a house and then pay relative peanuts annually.

I'm befuddled by the view that one's house should be a piggy bank for the government. You'd think your house and home would be off limits. Even my home state of NH has it all backwards. They'd rather pay through the teeth for property taxes than pay a tax on a flashlight.

and Texas is one of the worst.

My house is valued at about $390k and I pay $10k/year in property taxes. It has went up 40% in the last 5 years. It is literally killing us financially. We will be moving out of state this time next year because of it...well and the horrible Texas weather.

[NewbieHere]

Originally Posted by Katera

and Texas is one of the worst.

My house is valued at about $390k and I pay $10k/year in property taxes. It has went up 40% in the last 5 years. It is literally killing us financially. We will be moving out of state this time next year because of it...well and the horrible Texas weather.

But Texas pays no income tax right. Somebody at my pickle ball court said Texas is rich because of that.

[CarawayDJ]

Originally Posted by Katera

and Texas is one of the worst.

My house is valued at about $390k and I pay $10k/year in property taxes. It has went up 40% in the last 5 years. It is literally killing us financially. We will be moving out of state this time next year because of it...well and the horrible Texas weather.

Yup. A friend from San Diego recently retired/relocated to TX and got sticker shock over his property tax bill. Granted, he pays no income tax but that isn't as big a deal for many retirees. I am truly befuddled with this obsession in America to treat one's home like a piggy bank for the government. Didn't noticed it until I moved to Europe and saw how they viewed property taxes. Go back and look at some of the other prop 13 threads in this forum and you can sense almost contempt for homeowners. How dare they only pay 6K annually in property taxes. Make it 12K! You would think your house and home would be the least taxed part of your life. Maybe there's a bit of class warfare going on. "I can't afford a home so the hell with you…" And I love the rationale about needing to maintain the roads. I guess they pave the roads in SoCal with gold. They can't possibly be using the same asphalt they use in SC where property tax revenue is a fraction of what they get in SoCal, prop 13 and all.

I recognize this initiative isn't about private residential property but we all know where this is heading.

[mirage98de]

Property tax mostly goes to the school system.... which somehow requires $10,000 per year to “educate” one five year old.

[Finper]

the newspaper won't let me read the article. Does Newsome really think people will vote to increase property taxes? What's the benefit to the average citizen? Maybe the defeat of EE will give them pause
People are not laying down and passing everything on a ballot anymore.

[ysr_racer]

Originally Posted by Finper

What's the benefit to the average citizen.

Ha ha, you funny guy Joe. We passed by benefiting long ago. Now it's about punishing those evil successful home owners, that have owned their homes or business for a while.

Benefit? That's funny