Housing Series: Prop 13 Reform
We need to break this subject up a bit as there has been so much discussion.....so, PROP 13 Reform. One of our readers says he pays $11,200 versus his neighbor with a similar house who pays $2,500 in property taxes...is it good public policy to provide incentives for people to stay in one house for many years or should all property taxes be based on more current appraisals? If so, who is going to do all that work? and better yet, who is paying for it?