- Joined
- Oct 28, 2005
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aint nobody was complaining about prop 13, keeping property taxes low, nobody, and I'm pretty sure that "loophole" benefitted more low income folks than wealthy, pretty darn sure. Considering, home ownership is decreasing in the state, this will be a huge hit on rent prices.The change closed a glaring loophole in Prop 13, which already reduced housing supply and increased housing costs.
No one is being forced out of a home here, if your parents die, the property absolutely should be reassessed. This particular loophole was overwhelming used by wealthy families.
you will own nothing and you will be happy
it's not going to affect me or my kids because I understand how to deal with this shitty government, but I will tell you, a lot of folks dont know how to get around, dont have the means to get around it. Knowing that, my pops raised his rent to match market values.... a clean $1000 extra in rent...... you can say he's greedy, or he's been doing way below market for too long.....