Originally Posted by
majorpilot
The tax rules in certain states can really hurt longtime owners who “benefit” from rapid appreciation and see their property tax bill go up each year. So I’m sure many who aren’t selling are just hurt by rapidly spiking values. I hope your situation works out for you.
Cali has that going for it, Prop 13 locks in your tax base at time of purchase and then it only goes up 2% annually max. So your property tax won't exceed your net retirement income decades down the road.
Otherwise The State would foreclose on retirees so they could replace them with high earners who pay high taxes.