This article says it repeals Prop 13 on commercial properties, but not residential. I’ve been advocating that change for years. Hell, I’d even be willing to pay FMV on my residential property.
Not having to pay fair market value property tax on commercial properties has been a massive boon to commercial landlords. It has served to make properties even more valuable on the open market than they would be without this interference and is actually government picking entrenched groups which isn’t MAGA at all.
Everywhere else property taxes are the same percentage for everyone. Some states have a senior rebate to avoid kicking old people on fixed incomes out of their homes. Beyond that anything other than a flat rate for property taxes across the board is incredibly unjust.
This is actually the first sane thing someone has done. Of course like all Democrat tax ideas the receipts won’t actually go up because the FMV of commercial properties is tanking. At least going forward it will remove the undue influence of prop 13 on the market.
This article says it repeals Prop 13 on commercial properties, but not residential. I’ve been advocating that change for years. Hell, I’d even be willing to pay FMV on my residential property.
Not having to pay fair market value property tax on commercial properties has been a massive boon to commercial landlords. It has served to make properties even more valuable on the open market than they would be without this interference and is actually government picking entrenched groups which isn’t MAGA at all.
Everywhere else property taxes are the same percentage for everyone. Some states have a senior rebate to avoid kicking old people on fixed incomes out of their homes. Beyond that anything other than a flat rate for property taxes across the board is incredibly unjust.
This is actually the first sane thing someone has done. Of course like all Democrat tax ideas the receipts won’t actually go up because the FMV of commercial properties is tanking. At least going forward it will remove the undue influence of prop 13 on the market.