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To: XoFruitCake who wrote (141417)	8/16/2008 10:53:26 AM
From: John Chen	Respond to of 306849

"I think prop 13 is a fair tax system. ". You think it is fair because on overage, you're way ahead of those who bought lately and paying the same 'today city/county service' with much higher rate. You definitely benefited from it. Give yourself a lot of credit of having the heart to "pay it back" to a system which fed you. Had you never bought houses in Kalifornia before, you would not think it is fair, that's my belief, but you may be just a fair person.

To: XoFruitCake who wrote (141417)	8/16/2008 12:19:29 PM
From: neolib	Respond to of 306849

How is it unfair? In some sense it is not unfair, provided the owner does not benefit from inflation. When houses are sold the new owner, as you note, is agreeing to the inflated value. What about existing owners who mine equity from their inflated house value? Perhaps they should have their tax base reset as well?

To: XoFruitCake who wrote (141417)	8/16/2008 5:39:33 PM
From: Live2Sail	Read Replies (3) \| Respond to of 306849

lived in Kalifornia for the last 23 years. I bought a house in 1988, another house in 1994. Sold both of them in 2003, 2004 and bought a house in 2004. So now I am paying property tax based on my 2004 purchased price. And I think prop 13 is a fair tax system. I don't understand the argument that everyone should pay the same tax rate. Costco and Walmart sell the same items as other retailers, and I don't call it unfair that they can sell the same merchandise at a lower price. I bought a stock 10 years ago and it appreciated form 10 to 1000 a share. I don't think it is unfair for someone to pay 1000 a share of the same stock that I own today which I only paid 10 many moon ago. You don't think that everyone should pay the same tax rate? Then let's double your sales tax and make mine zero. As far as stocks go, as long as you are in the same tax brackets, you and the johnny-come-lately will pay the same tax rate on what your gains are. Prop 13 is a system that everyone know how it work. So people are making an informed choice to buy a house in Kalifornia. Property tax is part of the cost of owning a house. And it is factored into the buy vs rent decision. With a higher property tax, housing price will go lower to compensate for it. So the seller is paying for the property tax they saved over years by lower selling price when they sell the house. How is it unfair? If we agree on the system of property taxes, that is there is some tax on the assessment of the house, why should owner A pay 1/10 of that of owner B when they can both enjoy the same services? Tax discrimination?