🚀 go-pugleaf

linley@netcom.com (Bruce James Robert Linley) writes:

>In ye olden post J056600@LMSC5.IS.LMSC.LOCKHEED.COM (Tim Irvin) spake...
>>linley@netcom.com (Bruce James Robert Linley) writes:

>>Why does that matter?  The property tax is a *recurring* tax on *property*.

>It matters because the market value of property is complete _out_of_the_
>_homeowner's_control_. Consequently, the homeowner should be protected

[ economically irrational defense of prop 13 deleted ]

Let's be clear.  Prop 13 (using purchase price for tax assessment )
is a benefit *only* to owners who have experienced an unrealized
captial gain - that is, those for whom forces "out of control" have 
have raised their property values and directly
enriched the owner.

Could you explain to me again why someone deserves a tax subsidy from
my pocket because they have gotten richer?

>[counter inflammitory portion of post]
>And yet we're all still here and life still goes on and all those new houses
>and condos are still being sold as fast as they can build them, no doubt
                         ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
 
hey dude - WHAT PLANET DO YOU LIVE ON?

The value of units in my condo complex have dropped over 25% in the last
4 years.  They would drop further, but several of the owners face negative 
equity and con't afford sell. Meanwhile, California public schools have declined
by almost all measures since prop 13 passed.  Coincidence? I don't
know, but 3 of my teacher friends (1 public schools, 2 private schools,
all non-union) have strong opinions....

About your [deleted] prop 13 defense: if the purchase price is the "correct"
price, then why is there a provision in prop 13 that allows you to reduce
you tax basis to market value if market value is less than  purchase price?

-- 
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Tyler Holcomb   *   "Remember, one treats others with courtesy and repsect *
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