🚀 go-pugleaf

In ye olden post tylerh@alumni.caltech.edu (Tyler R. Holcomb) spake...
>
>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?

No one 'gets richer' until they _sell_ the house. Where is the homeowner
supposed to get the extra maney from to pay the tax increases if he/she
does not want to move and stays put? And why should a tax (previously
subject to such wildly extreme change, i.e. more than an order of magnitude)
force them to pay more or move? Sure sounds like a "make way for thy more
worthy rich folk" argument. Prop 13 protects homeowners from being taxed
out of their home whose value may rise much faster than their income.

>equity and con't afford sell. Meanwhile, California public schools have declined
>by almost all measures since prop 13 passed.  Coincidence? I don't

Prop 13 is being 'demonized' as the mother of all school problems. Nevermind
the population increases, and high-density housing which packs more people
into each taxable square foot of property. What about the Lottery money that
was supposed to help the schools? Or has that money simply replaced an equal
amount of money previously given to schools. What about the UC and Cal State
schools which are not funded by property tax? They've gotten worse and more
expensive too. Clearly something other than prop 13 is responsible here.
Maybe it's the 550,000 lost jobs (and lost state income tax) caused by all
the defense cuts? Nah, let's just blame prop 13 for everything, or better yet,
let's help the schools by kicking people out of their houses. Yeah, that's
the ticket.

>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?

All geared to protect homeowners, in this case, those homeowners who bought
in an expensive market and now need a break in these economically difficult
times.

-- 
Bruce James Robert Linley  ----  linley@netcom.com  ----  Amateur radio: KE6EQZ
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