this post was submitted on 10 Nov 2024
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I wish the taxes would go up. Here in California there is absolutely no downside to treating your home as an investment vehicle. At least individually.
Yes, there is a clown law known as Prop 13. Property taxes are extremely low and can't be raised except by a supermajority of voters.. We do have high income taxes but overall it's actually a middle-tax state.
Residential property values in CA are only reassessed when the property is sold. So if you're sitting there for decades in the same house you'll pay almost no taxes.
Almost every problem you've heard of about California can in some way be linked back to this law.