How California's Fiscal Woes Began: A Crisis 30 Years in the Making (Los Angeles: low income, real estate market)

[whydoucare?]

Originally Posted by JohnG72

Also no mention of how this would play out:

Couple at age 30 buys dream home in 1970 for $35K. They buy it. They retire in said home at 65 years of age on social security and a modest amount of savings with the house paid off. Except.......prop 13 doesn't exist. And their house is reassessed at its new value in 2005 of $800,000.

Yay property taxes that exceed half their income!

Antibes, I'd suggest you research the reasons WHY Prop 13 was advocated, then report back to us on your findings. In that manner you can present a argument that incorporates all relevent facts, rather than your one sided, biased argument.

This happened alot in ca especially during the housing boom, my inlaws bought in sf in the 60's and sold at the height of the market at almost $2 million

[antibes]

Originally Posted by JohnG72

Antibes, I'd suggest you research the reasons WHY Prop 13 was advocated, then report back to us on your findings. In that manner you can present a argument that incorporates all relevent facts, rather than your one sided, biased argument.

Why don't you learn to read and reason before you offer me a review into your miniscule thinking capacity.
I was posting a copy-and-paste of an article from yahoo. The link was added too. Its not 'my' argument. If you're not able to figure that simple fact, what else are you unable to figure out?

duh.

[BayAreaHillbilly]

If I see one more thread with the theme "it's all Prop 13's fault" I am going to projectile vomit, right through the internet, right in the OP's face.

[Ultrarunner]

Originally Posted by jkanderson521

In reality, only a small number of people really benefit from Prop 13th original "intent". The rest are businesses who are subsidizing their profit margin at tax payer expense and that should stop.
.

I disagree... every property owner benefits from Prop 13 because it provides predictability in Property Taxes.

Arguments often leave out the fact that voters can and do frequently approve taxes over and above Prop 13 limits... at least this is the case in my city of Oakland CA. My tax rate is 45% higher than the Prop 13 limit of 1%.

Voters can approve taxes for School Construction with only a 55% yes vote... 55% isn't hard to achieve if the project has broad support.

By the way... I'm speaking as someone that bought my home in 2005 and saw a 7 to 8 fold increase in taxes over what the previous owner of 50 years paid.

[nmnita]

yep, blame it all on prop 13, of course the welfare system, illegals, overpaid workers, and on and on, none of this makes any difference: it is all Prop 13.

Nita

[MotleyCrew]

I can just imagine what shape CA would be in if Prop 13 did not pass years ago. Just think 7 to 9% property taxes on $500,000 homes. Be still my heart.

[JohnG72]

Originally Posted by antibes

Why don't you learn to read and reason before you offer me a review into your miniscule thinking capacity.
I was posting a copy-and-paste of an article from yahoo. The link was added too. Its not 'my' argument. If you're not able to figure that simple fact, what else are you unable to figure out?

duh.

When you post the title "How California's Fiscal Woes Began: A Crisis 30 Years in the Making" and then post an article that goes on to back that title up, why would any reasonable, rational person not conclude that you therefore advocate the position in the article?

And if not, then why post?

[MotleyCrew]

There is a movement here in AZ and, I am hoping it picks up some steam, to do a Prop 13 here. This would roll back our property taxes to the 03 rate of .005 and would save us $1,400 a year on our home. That is a huge savings to people here who may be struggling to keep their homes or soon to be retired. The states can cut some of the pork and remove the redundant programs they all seem to have. How about reduce the salaries of the legislators judges and the Gov's? I am tired of watching the people bleed while the band plays on.

[antibes]

Originally Posted by JohnG72

When you post the title "How California's Fiscal Woes Began: A Crisis 30 Years in the Making" and then post an article that goes on to back that title up, why would any reasonable, rational person not conclude that you therefore advocate the position in the article?

And if not, then why post?

You mean that "rational" people like yourself has never been presented two sides of a coin, two different viewpoints by anyone?

Wow. You must be 'open minded'...

[jkanderson521]

Again, Prop 13 is good when it protects grandma and families from being thrown out of their homes.

It should not be helping speculators, landlords, and The Irvine Company subsidize their profit margin at taxpayer expense.

Spending absolutely needs to be reduced, but Prop 13 needs some fixing as well