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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (8985)2/18/2003 12:06:35 PM
From: Jack of All TradesRead Replies (1) of 306849
 
I would think that some of the issue in SV was the fault of the local gov officials. Why did they allow this expansion of tech company's without considering housing for the new employees? I agree that your prop 13 is causing problems, but just because a elderly person has alot of equity tied up in their property does not mean they should be forced to use it for taxes. I say your lawmakers should have wrote the law to make the primary owner MUST reside there. This would then eventually roll the property.

In NH we have NO Income or Sales tax. Everything is funded from the property tax. Elderly are in a much worse position out here with the exception of a few towns that "freeze" property taxes on owners 65 and over.
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