Tech workers are increasingly looking to leave Silicon Valley

Re:Tech workers are increasingly looking to leave Silicon Va... by ryandrake on Monday February 29, 2016 @09:25PM (#11200411)

I'm arguing that richer neighborhoods DO have nicer schools, roads, and parks. Prop 13 says you may live in such valuable neighborhood while not paying taxes in proportion to that value, merely because you happened to buy a long time ago.

[ Parent | on HN ]

Re:Tech workers are increasingly looking to leave Silicon Va... by prostoalex on Monday February 29, 2016 @10:47PM (#11200665)

I an questioning how big of a problem that is empirically.

One can't really arbitrage that effectively.

Municipalities can't run consistent deficits, so the new schools, roads and parks will be built after a wave of newcomers buys properties, locking in higher prices and higher tax base.

In case there are no such newcomers (i.e. everybody is maximizing their Prop 13 benefit by not selling), the municipality just sticks to the last year's budget with a 2% increase permitted by Prop 13. But in that case new schools, parks and roads that make the neighborhood better don't appear either.

[ Parent | on HN ]

Re:Tech workers are increasingly looking to leave Silicon Va... by JoshTriplett on Monday February 29, 2016 @09:39PM (#11200446)

> I'm arguing that richer neighborhoods DO have nicer schools, roads, and parks.

That's a really good reason to stop funding those things through property taxes.

[ Parent | on HN ]