[eanzenberg]

Prop 13 is just homeowner fiscal responsibility. Repeal it and watch as existing homeowners are forced out of their homes onto God knows where, for factors out of their control, and in the hands of government officials who decide how much something is worth.

Also, I’m not sure how many funds this would ultimately raise. Houses will flood the market as existing homeowners can’t afford their taxes, putting downward pressure on housing costs and ultimately decrease tax revenue.

[firloop]

> Prop 13 is just homeowner fiscal responsibility.

This argument doesn’t hold up when you consider that Prop 13 applies to much more than single family homes; commercial property is included and wealthy land developers benefit greatly from the measure.

[mc32]

You could apply it to new sales —grandfather current owners to minimize that effect.

[0xffff2]

Isn't that what prop 13 already is? Nominally property taxes reset to market rate at each sale. (Nominally because there are loopholes you could drive a big rig carrying a Falcon 9 through.)

[ashtonkem]

One of the loopholes has been transfers to children and grandchildren. There are residents in our town who pay 1970s property tax rates just because of who their parents or grandparents are. It’s a perversion of the nominal American dream.

[cobookman]

You just made buying a home that much more expensive. You think California's elected officials will keep property tax to 1% of assessed home value?

It'd be a double whammy, re-assesment to higher home values coupled with a larger % of home value being taxed.

I'd rather say starting today homes are re-assesed every 25 years to market value, or something of the sort.

[ashtonkem]

You don’t know what prop 13 does.

How is children and grand children inheriting their parents property tax rates “fiscal responsibility”?