Prop 13 actually made it more attractive to buy property, which caused its value to go up and more housing to be created and taxed.
The same thing happened in Boston in the 1980's. Property taxes were slashed and then values doubled in within a decade.
The same thing always happens when you stop taxing something to death. It recovers, grows, flourishes.
Prop 13 actually made it more attractive to buy property, which caused its value to go up and more housing to be created and taxed.
The same thing happened in Boston in the 1980's. Property taxes were slashed and then values doubled in within a decade.
The same thing always happens when you stop taxing something to death. It recovers, grows, flourishes.