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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: David Jones who wrote (12400)8/15/2003 8:08:12 PM
From: Lizzie TudorRead Replies (1) of 306849
 
Are not some your industries biggest companies in SV? What would happen to SV if they and others like them moved out of state. After all they've been beneficiaries to Prop 13 for how many years?

The current crop of tech companies have been beneficiaries of prop 13 for ZERO years.

Some obsolete tech companies, like say Tandem computers, now through a series of acquisitions is a part of HP, is a HUGE beneficiary of prop 13 though. Tandem owned a ton of property in Cupertino in the 70s... Tandem is the equivalent of one of the poor little old ladies that is something of a sound byte on this issue. Tandem no longer exists but has no incentive, NONE to transfer the land to anyone, instead they collect huge leases from whoever chooses to locate there from one year to the next. The companies who move in have no real assurance that their leases will be renewed fairly. Local govts get essentially nothing from whoever leases from Tandem. An extremely screwed up system.
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