Originally Posted by
rickair7777
Yeah prop 13 exists for a reason, and it's still a very good reason in 2025.
You play by all the rules, pay taxes and mortgage for decades and then the government seizes your home at age 75 because some arbirtary website like zillow posts a very large number associated your address?
I'm sure there are ways to rationalize taxes for local services without taking away retirees homes. But without prop 13 you literally could not plan for your financial future (other than planning to move to to Reno).
This is one of the reasons that I'm like "Eff Dave Ramsey" on paying off the house early... there's only two entities who can ever actually "own" your house, and you are not one them. They'll just let you live there as long as you keep paying your "rent" (mortgage & property tax).
sounds like a tough problem to pay taxes based on the size of your asset. i guess the “too bad, you should plan better” approach only applies to those born after existing homeowners.
instead, you take advantage of low tax rates on the backs of younger people while enjoying immense real estate wealth.