News for hackers. Stuff that matters.

A comment on Why California is so expensive: It’s not just the weather, it’s the regulation. Parent comment

Re:Why California is so expensive: It’s not just the weather... by wrong_variable on Tuesday July 19, 2016 @06:37PM (#12125474)
>The proposition decreased property taxes by assessing property values at their 1975 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2% per year.

Sounds pretty insane.

[ Parent | on HN ]
Re:Why California is so expensive: It’s not just the weather... by clock_tower on Tuesday July 19, 2016 @07:33PM (#12125747)
This is why you don't really want to live under a democracy (always assuming you can find a non-democracy that respects human rights). California's government-by-referendum has made it impossibly dysfunctional, because the populace consistently votes for two types of referendum: "spend money on things I like" and "don't raise my taxes."
[ Parent | on HN ]
Re:Why California is so expensive: It’s not just the weather... by seanp2k2 on Tuesday July 19, 2016 @08:45PM (#12126077)
Yeah, it's hard to argue that 20% yearly increases in SF rent are fine while property owners get limited to 2% .
[ Parent | on HN ]