Shortage of Housing a result of .... (economy, price, market, college)

[Ultrarunner]

Originally Posted by rruff

Instead of the current fair market value, which is much more relevant to the services that are provided by the taxation.



So clever of you to use an example of an anomalous period where RE values dropped a lot!



But all *persons* who own property subject to taxation are not treated the same! The court allows all sorts of discrimination. That doesn't mean it's good or fair policy.

BTW Prop 13 was originally pushed by big money RE investors who wanted to reduce their taxes. The tactics and campaign worked wonderfully.

What part is so hard to understand that the highest court in the land has already ruled on this?

Wishing for something else does not make it so.

My anomalous example means more to me than blank statistics... the example is real because I live it every day... I have been there twice as long in a old home half the size and my neighbor pays significantly less...

What people fail to realize is these discussions only come up in appreciating markets... barely a word when prices drop... yet any look at California Real Estate with show significant drops...

How does a single person in a 2 million SF condo use more services than a family in a 200k mobile home?

Yet the single person in the 2 million condo pays 10x the property tax of the family with kids does in the 200k mobile home.

Yes... Prop 13 has been around for 40 years... and Sacramento Politicians had ample opportunity to address double digit property tax increases and something as simple as indexing the Home Owner Exemption for inflation was asking too much...

The "Miscalculation" is politicians thought they could drum up class warfare to stop Prop 13 cold... and at the 11th hour came up with their own ballot measure... just how dumb do they think people are?

As mentioned many times... I was too young to have voted for it... but give thanks each and every day for those that did.

[JamesMabreyDallas]

Originally Posted by engineman

The real estate/ construction business virtually died, and now it is playing catch up. We need less govt involvement and an end to "mega banks".

This can solve most of the problems..

[Perma Bear]

Originally Posted by Ultrarunner

What part is so hard to understand that the highest court in the land has already ruled on this?

Wishing for something else does not make it so.

My anomalous example means more to me than blank statistics... the example is real because I live it every day... I have been there twice as long in a old home half the size and my neighbor pays significantly less...

What people fail to realize is these discussions only come up in appreciating markets... barely a word when prices drop... yet any look at California Real Estate with show significant drops...

How does a single person in a 2 million SF condo use more services than a family in a 200k mobile home?

Yet the single person in the 2 million condo pays 10x the property tax of the family with kids does in the 200k mobile home.

Yes... Prop 13 has been around for 40 years... and Sacramento Politicians had ample opportunity to address double digit property tax increases and something as simple as indexing the Home Owner Exemption for inflation was asking too much...

The "Miscalculation" is politicians thought they could drum up class warfare to stop Prop 13 cold... and at the 11th hour came up with their own ballot measure... just how dumb do they think people are?

As mentioned many times... I was too young to have voted for it... but give thanks each and every day for those that did.

The highest court in the land also said that separate but equal was okay.

[Ultrarunner]

Originally Posted by Perma Bear

The highest court in the land also said that separate but equal was okay.

Is your argument Prop 13 isn't legal?

[Perma Bear]

Originally Posted by Ultrarunner

Is your argument Prop 13 isn't legal?

My argument is that nothing is safe not even prop 13.

[Ultrarunner]

Originally Posted by Perma Bear

My argument is that nothing is safe not even prop 13.

We are in agreement.

[Perma Bear]

Originally Posted by Ultrarunner

We are in agreement.

Until I inherit I don't care if prop 13 dies. I would love to see some "bootstrappers" suffer.

[Ultrarunner]

Prop 13 is silent and makes no provision for inheriting...

The voters of California enacted other laws covering inheritance and a big push was from small family farms having to sell out because farming was no longer viable if subject to higher property tax.

[Perma Bear]

Originally Posted by Ultrarunner

Prop 13 is silent and makes no provision for inheriting...

The voters of California enacted other laws covering inheritance and a big push was from small family farms having to sell out because farming was no longer viable if subject to higher property tax.

Not my problem. Some people who bought houses for 10k should pay their own share. They shouldn't be rewarded because they were born decades ago.

[Ultrarunner]

Don't you understand that everyone IS PAYING their Fair Share under the law unless the owner happens to be a non-profit of religious and they pay nothing.

Anyone not paying the amount due will loose the property in a tax lien sale.

I tried to point out how is it fair to tax the guy and a SF Condo worth 2 million ten times more than a family with kids in school living in a 200k mobile home... he certainly isn't using 10 times the services.

It's actually quite the opposite... the family in the 200k mobile home with kids in school is using many times the services of the guy in the condo...

Maybe I should adopt your stance and say it is not my problem that those complaining sat on the sidelines during the BUY opportunity of a lifetime just 5 years ago???