[lbo-talk] Prop 13

[Michael Perelman]

Of course, one major problem is that many private homes turn over.  Jordan's neighbor
is an exception.  Business property, even when it is taken over in a merger, does not
get reappraised.

On Mon, Jun 27, 2005 at 06:41:42PM -0700, Jordan Hayes wrote:
> > Like the Proposition 13 that has nearly
> > ruined your state?
> 
> Has it really?  The last time I looked at this, Prop 13 seemed to me to
> be a one-time aberation: property tax revenues have gone steadily up
> over the years since then, looking not unlike what they looked like
> before it.  For a few years right at the beginning, it was lower, but it
> seemed to recover.
> 
> For me, I think it's not a terrible thing:
> 
> - Current buyers in this hot market get dinged
>   [In CA, sales trigger auto-reassessment at cost]
> - Long-time owners don't get crushed
> 
> How would you do property tax instead?  My property taxes are about 6x
> what my neighbor's are, and I think they have a nicer house: but they've
> been there for over 40 years, and I've been in mine for 3.  I think
> that's fair, don't you?
> 
> /jordan
> 
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-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu