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Last login: Tuesday, March 2, 2010
Without Prop 13 people were getting priced out of their homes because taxes were linked to property values. An alternative to Prop 13 would have been to just take property values out of the equation altogether. That would prevent the case of people getting suddenly priced out of their homes because of booming house prices, and it would prevent the counties budgets suddenly going upside down when home prices dipped.
For example if the property tax was linked to sq. footage of a home, then there would not be such volatility in the assessed tax. Tax increases could be more in line with inflation, with credits for fixed or lower incomes. This kind of tax would also be an incentive to empty nesters to downsize, whereas Prop 13 is more likely to prevent them from being able to move.
March 2, 2010 at 7:35 p.m.
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