ctindel t1_j2dozjp wrote on December 31, 2022 at 2:19 PM

Reply to comment by CactusBoyScout in New York Lawmakers File Psychedelics Legalization Bill For 2023 by FredricTheConqueror

Just because someone has wealth in a house doesn’t mean they can afford increased property taxes. Taxing income and cap gains is the only thing you know people can actually afford. Though I’d have no problem with property taxing stock portfolios of millionaires because at least we know you can sell some stock to pay the tax without going homeless.

CactusBoyScout t1_j2dp5xb wrote on December 31, 2022 at 2:20 PM

Prop 13 doesn’t have any means testing though. And it isn’t even limited to a single primary residence. So landlords with a dozen rental properties and even golf courses in Malibu are paying next to no property tax.

igon86 t1_j2e2j8e wrote on December 31, 2022 at 4:02 PM

I thought it was limited to the primary residence. That is wild.

CactusBoyScout t1_j2e3md9 wrote on December 31, 2022 at 4:10 PM

Until fairly recently, you could even pass it on to your kids.

It was basically rent control for landlords and created a landed elite who paid very little into state coffers.

But it was sold with progressive framing like “save grandma’s house” and some people still believe that to this day.

ctindel t1_j2dpb6k wrote on December 31, 2022 at 2:21 PM

Yeah I agree it could use some reform and I’d have no problem limiting it to primary residence and also any rentals that are used as someone else’s primary residence.