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California
Showing Original Post only (View all)Are CA property tax laws still appropriate? [View all]
"..... descendants of a generation of California homeowners enjoy a significant perk that keeps their property tax bill low. Part of that is thanks to Proposition 13, which has strictly limited property tax increases since 1978. But they also benefit from an additional tax break, enacted eight years later, that extended those advantages to inherited property even inherited property that is used for rental income.
California is the only state to provide this tax break, which was designed to protect families from sharp tax increases on the death of a loved one. Without the tax break, proponents argued at the time it passed, adult children could have faced potentially huge bills, making it financially prohibitive to live in their family homes.
But a Los Angeles Times analysis shows that many of those who inherit property with the tax breaks dont live in them. Rather, they use the homes as investments while still taking advantage of the generous tax laws."
As a former teacher I know first hand how much this has hurt the state's schools. CA used to be in the spotlight as having FANTASTIC schools...that was until Prop 13. The amount students receive from the state ranks it in the bottom 5 of the all the states. There are no teachers for Science, PE, Art, Music, etc. The staffs have been cut by up to 33% in some districts. Schools don't have A/C or even playground equipment, printers in classrooms, on-site tech repair, nurses, psychologists, ....
http://www.latimes.com/politics/la-pol-ca-california-property-taxes-elites-201808-htmlstory.html#
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Many times a house will be demolished except for frame of front door, for Prop 13 tax dodge. nt
Bernardo de La Paz
Aug 2018
#1
Simple economics. Also, property tax has gone up significantly through the years on existing
still_one
Aug 2018
#8
With the inflated prices of real estate in California, trump's tax breaks which hurt states like
still_one
Aug 2018
#5
and I voted for those revenues, but that is where the problem is. find out what is
still_one
Aug 2018
#13