Originally Posted by
rickair7777
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).
Most other states deal with this issue effectively WITHOUT something egregious like prop 13.
1) Homestead exemption during your working years reduces the tax burden of the appraised value AS LONG AS YOU ARE ACTUALLY LIVING IN THE HOME. Full taxes due if it is an investment property.
2) Age 65 your property tax gets locked in. No seniors get their homes taken away. Fixed income people paying fixed property taxes and get to keep their home.
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