Religion and Politics, subjects taboo for cocktail fodder. You might consider adding Prop 13 to the list. The mention of it can fan the emotional flames. I have written about Prop 13 before. David Lazarus of the LA Times has written about this subject. This is one of those polarizing issues, similar to buying a house with a swimming pool. Either you love it or there is no way you will consider it. There is no in between, no middle of the road. People are either quick to defend or quick to … [Read more...]
Is It Time to Amend Prop 13? – The Real Estate Property Tax
January 2, 2008 By 4 Comments
Prop 13 was passed in 1978 as a means to thwart increasing property taxes that were a result of rising property values. It limited the tax to 1% of the assessed value of the property and limits the increase in assessed valuation to 2%. Proponents of Prop 13 claim that this is a fair tax since it is based upon acquisition value and not the ups and downs of the real estate market. Also they argue that purchasing a new property is an indirect approval of the property taxes that coincide with it, … [Read more...]
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