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Old 03-20-2018, 03:06 PM
 
280 posts, read 204,506 times
Reputation: 351

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Quote:
Originally Posted by Ultrarunner View Post
Any objective look clearly shows there is no Subsidy...

Each and every taxable property pays the same rate for the region/location and this is Prop 13.

I have pointed out many times where long term homeowners are paying more and some cases much more than new homeowners... the "New" homeowners bought 2009-12 when prices were depressed.

I understand those feeling they missed the boat when they failed to get on board... especially since 5 years ago isn't very long ago.

Value at the time of transfer is the law of the land in California... and thankfully so... and thankfully so... repeated for emphasis.

No one in their right mind would want a return to the old system fought with corruption, scandal, endless appeals and being subject to Assessor Opinion and more so the people not having a vote as to special assessments.

There is only one problem and that is too many gloss over the past with rose colored glasses failing to see just how bad it was... volumes of tax code replaced by a couple of easy to understand paragraphs.

And "Bad" is the appropriate adjective as there would be no Prop 13 if the system wasn't broken.

Take heart... all is not lost. The beauty of Prop 13 is that it applies to ALL property... and if you think longevity is the key... then YOU TOO have the same opportunity.

In 30 or 40 years I fully intend to be the homeowner with the lower property taxes that my senior neighbors enjoy now...

Remember... YOU TOO can get onboard or not... it is your choice. I also realize it is easier to complain as opposed to act... such is the human condition.

PS... appreciative is a more apt description of how I feel about my neighbors that have owned for decades... they made the neighborhood welcoming and desirable so that I wanted to call it home too.

While I think that there are flaws with P13, you bring up some great points that I failed to consider. The easy and simplicity of how the tax is determined and billed saves the tax payers millions in avoided bureaucracy and red tape.

I do think that something needs to be done about how the tax basis can carry over to the beneficiaries of an estate and the interest deduction but P13 really isn't that big of an issues.
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Old 03-20-2018, 03:59 PM
 
1,117 posts, read 386,514 times
Reputation: 787
The problem with Prop 13 is it creates perverse incentives to never sell your property (because you will have to pay more tax on the next one), and aids in reducing overall housing supply (and therefore inflating prices).
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Old 03-20-2018, 04:04 PM
 
Location: New York City/San Diego, CA
667 posts, read 980,474 times
Reputation: 1025
I like prop 13 because it allows older people to stay in their homes and communities. So many older folks are forced out of the long time homes on the east coast due to escalating property taxes, hello Florida.

However, it is taken advantage of by being passed down to heirs and encouraging poor behavior like not working and smoking pot all day.
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Old 03-20-2018, 04:40 PM
 
280 posts, read 204,506 times
Reputation: 351
Quote:
Originally Posted by ZeApelido View Post
The problem with Prop 13 is it creates perverse incentives to never sell your property (because you will have to pay more tax on the next one), and aids in reducing overall housing supply (and therefore inflating prices).
P13 doesn't reduce supply since they would still have to live somewhere. It might make for less turn over but not less supply.
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Old 03-20-2018, 05:17 PM
 
Location: San Diego
40,465 posts, read 36,262,344 times
Reputation: 24746
Quote:
Originally Posted by BizrulesSD View Post
P13 doesn't reduce supply since they would still have to live somewhere. It might make for less turn over but not less supply.
Yeah not everyone wants to live with their kids when they're older.
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Old 03-20-2018, 06:12 PM
 
18,173 posts, read 12,526,685 times
Reputation: 9235
Quote:
Originally Posted by ZeApelido View Post
The problem with Prop 13 is it creates perverse incentives to never sell your property (because you will have to pay more tax on the next one), and aids in reducing overall housing supply (and therefore inflating prices).
What do you mean perverse? Why should a person wanting to stay in their home be perverse????

You mean everyone should have to move, like it or not?
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Old 03-20-2018, 06:13 PM
 
18,173 posts, read 12,526,685 times
Reputation: 9235
Quote:
Originally Posted by 1AngryTaxPayer View Post
Yeah not everyone wants to live with their kids when they're older.
Not many kids want their parents living with them ............ again.
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Old 03-20-2018, 08:44 PM
 
27,479 posts, read 56,516,150 times
Reputation: 21883
Quote:
Originally Posted by BizrulesSD View Post
While I think that there are flaws with P13, you bring up some great points that I failed to consider. The easy and simplicity of how the tax is determined and billed saves the tax payers millions in avoided bureaucracy and red tape.

I do think that something needs to be done about how the tax basis can carry over to the beneficiaries of an estate and the interest deduction but P13 really isn't that big of an issues.
The Parent/Child transfer exclusion from reassessment and the Grandparent/Grandchild exclusion from reassessment came about after Prop 13...

It is not automatic and must be applied for... the Grandparent/Grandchild is only when the parent is deceased.

Exclusions from Reappraisal – Frequently Asked Questions – Board of Equalization
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Old 03-20-2018, 08:48 PM
 
27,479 posts, read 56,516,150 times
Reputation: 21883
Quote:
Originally Posted by ZeApelido View Post
The problem with Prop 13 is it creates perverse incentives to never sell your property (because you will have to pay more tax on the next one), and aids in reducing overall housing supply (and therefore inflating prices).
Not at all...

Props 60 and 90 passed by the voters eliminated this.

Exclusions from Reappraisal – Frequently Asked Questions – Board of Equalization
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Old 03-20-2018, 08:51 PM
 
27,479 posts, read 56,516,150 times
Reputation: 21883
Quote:
Originally Posted by sfosyd View Post
I like prop 13 because it allows older people to stay in their homes and communities. So many older folks are forced out of the long time homes on the east coast due to escalating property taxes, hello Florida.

However, it is taken advantage of by being passed down to heirs and encouraging poor behavior like not working and smoking pot all day.
Except it is not Prop 13 that provides this...

Part of the issue was family farms and small businesses were being taxed out of existence upon the death of a parent... I had seen in with a family farm in Northern CA... the family was left with little choice but to liquidate because the tax jump after the property owning father passed away made farming a no go...

Same for small family owned business.
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