California has a Prop 13 which keeps property taxes low for longtime owners. This is good for the old and those who are already bought in, but no so good for people looking to buy homes since it inflates the value of the home.
“California has a Prop 13 which keeps property taxes low for longtime owners.”
I see you’re looking at that $1 million house.
We’re only going to offer $900,000 for it.
Did you know that the government of the State of California wants everybody to have decent affordable housing?
Even burger flippers?
Yes, indeed!
So Mr. & Mrs. BunStuffer and their two kiddies would have a place of about the same enclosed square footage?
And in the very same school district, no less!
Will they be paying $900,000?
No, not even close!