boomers have benefited from everyone paying their taxes and now want to opt out of contributing to the community. Even though boomers overwhelmingly benefit from prop 13, with lower taxes than many in the community - now they want to not contribute, while collecting social security and medicare.
It’s already difficult enough for people under 40 to buy a home. and out of reach for many of us. schools are already underfunded and dependent on property taxes to fund schools. this ballot proposal is the wrong way to help Californians.
Yep. This is like a reverse wealth tax. Such an incredibly stupid idea. Boomers still running too much of this country.
I am all for not raising taxes on people and even finding ways to lower them on mid class properties, but who would ever think eliminating those taxes altogether would work out ever? If anything why not propose property tax for seniors based on yearly income just like state tax? It should still cut taxes significantly for most but the state will still recieve something. If they do this they also need to find the income from somewhere else to make up the deficit.
Sounds like a good proposal, though it would be nice to see a cap on how much is exempt, so we don’t have giant mansions paying nothing.
It would need to be a sliding scale, like 100% off the first $1,000,000 in property value, 50% off the next $1,000,000. 0% off anything above that. (Adjusted for inflation annually)
This is how you end up with giant single family homes 3 blocks away from a metro stop not occupied at all since granny lives with her son in Arizona.
