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by hashouseincali
2332 days ago
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This logic makes no sense and people like myself can afford to keep our houses mainly because of prop 13. Since buying my house almost 8 years ago the market has double at no fault of my own. This would double my taxes making a good portion unable to be written off thanks to new IRS rules. Yet, you want to call that locked-in? I love my house and where I live but it would be painful with that extra $2k a month tax bill you mentioned. |
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California property tax mostly goes to the state and it funds schools by giving money back to the local districts (except about 60 really rich ones that opted out!) based on the number of student days/school. I'm not really sure, but I think that prop 13 passed after the state started taking property tax money. That would make sense as people like to have control of how there taxes are spent.