The simple alternative to Prop 13 is to adopt the idea of taxing land values only. Phase in a shift of the property tax over a period of years to increase taxes on land value and eliminate them on improvements. Land value is created by the community and is the appropriate source of revenue to pay for government services all of which increase land values. This would end real estate speculation and end the subsidy to corporations who were the real beneficiaries of Prop 13 hiding behind homeowners.
The simple alternative to Prop 13 is to adopt the idea of taxing land values only. Phase in a shift of the property tax over a period of years to increase taxes on land value and eliminate them on improvements. Land value is created by the community and is the appropriate source of revenue to pay for government services all of which increase land values. This would end real estate speculation and end the subsidy to corporations who were the real beneficiaries of Prop 13 hiding behind homeowners.
ourearthhome 3 years ago