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A comment on How This Ends. Parent comment

Re:How This Ends by ac29 on Monday May 23, 2022 @12:59AM (#31475463)
> Boomers all over Silicon Valley are still paying 1976 tax rates on their properties worth $2m+ now

Prop 13 limited tax increases to 2% a year, not zero. No one is paying 1976 rates.

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Re:How This Ends by neilparikh on Monday May 23, 2022 @01:26AM (#31475591)
They're paying (at most) 2.5x what they paid in 1976 (1.02 ^ (2022-1976)). In the grand scheme of things, that's not far off from 1976 rates, given that many properties have appreciated 10-20x.
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