Re:No ‘For Sale’ Sign? Silicon Valley Buyers Aren’t Deterred
by karma_vaccum123 on Tuesday September 06, 2016 @03:16PM
(#12438519)
Of course, and prop 13 also creates soft forms of blight. Old people stay in their homes long after they should have sensibly downsized...but ANYWHERE they move in California (even into a one-bedroom condo in nowhere-ville) will increase their property taxes! So they don't move. But they also can't afford the outrageous local costs for upgrades and basic maintenance, so their homes are slowly falling apart.
[ Parent
| on HN ]
Re:No ‘For Sale’ Sign? Silicon Valley Buyers Aren’t Deterred
by jedberg on Tuesday September 06, 2016 @06:26PM
(#12439722)
Actually there is an exception for old people in certain counties where they can keep their old property tax. Which makes the problem even worse because they can sell their house, upsize and yet keep their old 1980s tax rate.