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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (12431)	8/16/2003 11:53:00 AM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

Getting rid of Prop 13 would also help businesses by making homes more affordable for employees. The next group of employees we eventually hire at some point in the future, will most likely be in the Bay Area as costs become more reasonable here. Getting rid of Prop 13 is a great thing for startups and high-tech. It's not good for our community and our businesses if employees and contracors can't afford a house because prices are propped up artifically high through demand for real estate by investors that hold an unusually high number of homes here due to the low property tax, rather than local residents. Prop 13 is a benefit for real estate investors. It harms high-tech. Time to get rid of it. A lot of the articles that talk about "the high cost of doing business in CA will drive business out"... really, at the core of the issue... comes down to this law. As you can see reading this thread there are people who benefit greatly from prop 13 and they will fight to defend it. But a balanced law, something that raises taxes on only those that are paying less than 1/2 of the tax they would pay under current assessment... which excludes folks who actually live in the house, might have a chance because I feel we may have reached critical mass AGAINST this law at this point. There are clever ways to overturn laws too, legal challenges and the like. If Arnold and Buffett get in my guess is prop 13 is toast, hooray!