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You're not being harmed. They take nothing from you. Nothing.
And before you chime in - having to pay more because of the market, or life, or the stars being aligned a certain way, is not being "harmed". In fact, those longtime residents are actually being benefited, with higher selling prices and rental incomes.
They take quality of life from incumbent residents, not to mention substantial economic resources in the form of higher taxes and increased rental outgo. (You do admit that newcomers do have a redistributive effect, no?)
Prop 13 addressed precisely having to pay more (property tax) "because of the market".
Surely you would not object if we adopted Prop 13 here, would you?
LOL, I'm pretty sure the existing residents in my neighborhood are thrilled that I moved from CA and paid more for my house than they did, I raised their comps.
Prop 13 passed in 1978, those voters are probably gone or retired by now.
Yes, I see the Great Divide in this country not as liberal and conservative or even rich and poor (sorry John Edwards) but owners and rent slaves. (Many renters are merely "passing through" in transition or a life phase, as opposed to rent slaves who never have and never will be able to own a home.)
What is good for homeowners is usually bad for renters. And note how our society, culture, and politics are biased in favor of homeowners. When the "housing market" is good, it is good for homeowners, no matter how bad it is for renters.
p.s. as for Prop 13, many 1978 homeowners are still in their nominally-taxed homes, or their homes are still protected under family ownership (e.g. their grown kids now own the home).
People anywhere would be upset about newcomers coming in and gentrifying it. When have locals ever LIKED gentrification?
In the case of Portland the entire city is undergoing a gentrification process. It creates a weird situation because of Oregon's HIGHLY restrictive land use laws.
You hear those complaints in every. single. city. that has gone through a trendiness escalation. Nashville, Austin, Raleigh-Durham, Seattle, San Diego, etc., etc... The neighborhood I used to live in Austin now costs close to $500K for entry level houses. In the 1990s they would have been $150-200K.
Unfortunately this seems to be how our world works now.
Just when I thought your post couldn't get any nuttier, you come up with this gem. There are no words.
Right. I was skimming these responses, catching up on them, and had scrolled past the name of the poster, and yet the minute I read it, I knew exactly who wrote it.
Yes, I see the Great Divide in this country not as liberal and conservative or even rich and poor (sorry John Edwards) but owners and rent slaves. (Many renters are merely "passing through" in transition or a life phase, as opposed to rent slaves who never have and never will be able to own a home.)
What is good for homeowners is usually bad for renters. And note how our society, culture, and politics are biased in favor of homeowners. When the "housing market" is good, it is good for homeowners, no matter how bad it is for renters.
p.s. as for Prop 13, many 1978 homeowners are still in their nominally-taxed homes, or their homes are still protected under family ownership (e.g. their grown kids now own the home).
You do realize Prop 13 has nothing to do with Property Transfers to kids... again... absolutely no provision for it.
This is another reason I am compelled to speak out.
Prop 58 and 193 deal with transfer exemptions and came about because small family farms/business were being forced to sell as the tax implications upon death subjected the property to be reassessed.
A very old and frail women owns her falling down 1910 Oakland home and has lived there for 60 years. Habitat volunteers put a new roof on it...
Her only child was killed in Vietnam... she has a single grandchild and neither had a clue a grandparent to could transfer property to a grandchild without property tax consequences in some cases...
Even though the home is little more than a shack.. it is in the SF Bay Area... Grandma's $1000 property tax would go to $3500 without Prop 193
You do realize Prop 13 has nothing to do with Property Transfers to kids... again... absolutely no provision for it.
This is another reason I am compelled to speak out.
Prop 58 and 193 deal with transfer exemptions and came about because small family farms/business were being forced to sell as the tax implications upon death subjected the property to be reassessed.
A very old and frail women owns her falling down 1910 Oakland home and has lived there for 60 years. Habitat volunteers put a new roof on it...
Her only child was killed in Vietnam... she has a single grandchild and neither had a clue a grandparent to could transfer property to a grandchild without property tax consequences in some cases...
Even though the home is little more than a shack.. it is in the SF Bay Area... Grandma's $1000 property tax would go to $3500 without Prop 193
I was aware that succession of ownership by kids was covered under subsequent propositions brought by the same people who brought you Prop 13, so I conflate them in my mind.
That's hardly a surprise, everyone should have seen that followup coming a generation away. (Which, if I recall correctly, was just about the time lag involved.)
I was aware that succession of ownership by kids was covered under subsequent propositions brought by the same people who brought you Prop 13, so I conflate them in my mind.
That's hardly a surprise, everyone should have seen that followup coming a generation away. (Which, if I recall correctly, was just about the time lag involved.)
I'm sure many didn't realize Prop 13 is distinct and separate from Prop 58 and 193
It is not always beneficial either.
In 2009 I helped a family deal with Grandma's home...
She bought in in 2003 and passed in 2009...
Because Real Estate values dropped about 60%... the family was much better to forget about Prop 13 and 58 and 193.
The property was assessed at time of death which was significantly less than the 2003 value.
240 White Pine Canyon Road, Park City UT will be auctioned Truly Absolute to the Highest Bidder WITHOUT RESERVE by DeCaro Luxury Real Estate Auctions on the property site Saturday, April 2, 2016 at 2:00 PM, MT.
I'm paying all cash. But if I decided to put only 20% down and have a mortgage for the balance, Zillow estimates my mortgage would only be $35,680 per month.
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