Re:If you sell a house these days, the buyer might be a pens...
by jedberg on Thursday June 10, 2021 @12:32AM
(#27456679)
California could have increased their property tax revenue by 12 billion if they had passed the partial repeal last year: https://dornsife.usc.edu/assets/sites/242/docs/Updated_2019_...
There’s plenty of turnover in California on par with other states. If prop 13 were somehow so powerful a factor not to sell, you would see a lot less house sales which you don’t.
In my city, half the houses were sold in the last 20 years which sounds pretty good to me. The idea that property taxes are frozen to 30 years ago and governments are starving for money is fiction.
In places like Toronto where property taxes get assessed every year, the property taxes 1/3 for an equivalent house price.