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A comment on Los Angeles is spending up to $837k to house a single homeless person. Parent comment

Re:Los Angeles is spending up to $837k to house a single hom... by pbuzbee on Thursday February 24, 2022 @01:20PM (#30458238)
If property taxes were level across properties, wouldn't we likely see property values drop, given the presumed higher taxes in the future?

I'd rather see us adopt lower but uniform property tax rates that are revenue-neutral with Prop 13 rates.

Of course I'm only an aspiring property owner so I have a significant bias here.

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Re:Los Angeles is spending up to $837k to house a single hom... by rcpt on Thursday February 24, 2022 @09:50PM (#30463205)
> wouldn't we likely see property values drop, given the presumed higher taxes in the future?

Yes. Prop 13 is priced in to the market. Buyers are willing to bid higher because they expect that tax cut.

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Re:Los Angeles is spending up to $837k to house a single hom... by seanmcdirmid on Thursday February 24, 2022 @09:57PM (#30463248)
The tax resets when they buy, which also leads to people not wanting to sell because they don’t want to give up their tax cut.
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