Last login: Tuesday, March 2, 2010
While it's true that CA needs to reign in its excessive spending, it is also true that Prop 13 is ridiculous and should be overturned.
There's more than one way to do this, and no one is talking about taxing the heck out of 80 year old women like JimR76 implied. Bringing property taxes for all homes in line with a reasonable rate is a no-brainer because it's the right, fair thing to do, period. There should be no exceptions for people depending on when they bought a home, or whether they inherited it. If you're living in a home, you're getting the benefit, and you should pay the same as anyone else who is getting the benefit.
What people don't realize is that if property taxes go up, it does not necessarily result in people losing their homes. Mortgages and property taxes are paid out of the same pocket (the homeowner's pocket). If property tax is increased, the mortgage you can afford will drop. That means home values will drop. You have to take a longer view with these things than just "oh my god, someone is going to lose their home today if we change something". Big deal, if you lose your home you can rent. Welcome to reality.
This article does exaggerate the importance of Prop 13 in today's CA budgetary woes, but while we're on the subject, let's treat Prop 13 for what it is - an unsustainable policy that should be eliminated (not just for homes but also for corporations).
March 2, 2010 at 4:31 p.m.
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