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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Conan who wrote (8916)2/15/2003 10:23:53 PM
From: Lizzie TudorRead Replies (1) of 306849
 
I personally would prefer to see tobacco taxes, sales taxes, and VLF go up than see property taxes go up. Prop 13 may be unfair to new buyers (including me) but if you own for the long run you do quite well.

I don't agree with this actually, but I am open for debate. My feeling is that the existance of "capped" property taxes has artificially limited supply such that houses are way overvalued. Anybody under about 40 is screwed because if they buy, they are overpaying for the house and overpaying the taxes, AND they are going to pay the extreme sales taxes too. I don't think the under-40 crowd can *wait it out* and become the beneficiaries of this law. I think it was a onetime bonanza for those old enough to purchase property in the early 80s.
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