[Clyde Slick]

On Jul 3, 11:33*am, ScottW2 wrote:
On Jul 2, 5:26*pm, Clyde Slick wrote:



On Jul 2, 1:30*pm, ScottW2 wrote:

On Jul 1, 7:40*pm, Clyde Slick wrote:

On Jul 1, 5:08*pm, "Shhhh! I'm Listening to Reason!"

wrote:
On Jun 30, 9:34*am, Clyde Slick wrote:

On Jun 29, 7:13*pm, "Shhhh! I'm Listening to Reason!"
wrote:
Homeowners face income tax too, just not income derived from their
property.

Let me be more specific, owners of commercial properties
pay income taxses on the income produced by the
commercial property. When the depreciation
schedule ends, it afects taxes, and it means
\"decison time". what I am saying, is tht
prop 13 is but one factor leading to a deceison
as to whther to buy or sell or hold property.

True, but it appears that under Prop 13 the *corporation holding the
property* can be sold (along with the asset of the property) and the
property tax rate remains unchanged because it wasn't a *real estate*
transaction. The *mall* wasn't sold, just the corporation holding it.

That is true.
And the corporations depreciation schedule is not reset.

Ther is an unintended consequence to Prop13 you may not have
considered.
It contributes to blight. Selling a property is not the only trigger
for a reassessment
of value. Major renovations and additions are another trigger for
reassessment, and
those items may be dropped for fear of raising taxes.

*Prop 13 didn't change that. *Property was reassessed with
rennovation
and improvement before Prop 13 and probably at at higher rate than the
~1% rate Prop 13 set. *So it reduced the tax impediment to property
improvement, not increase it. Also, the reassessment is only on
additions or major change of use. You can remodel your kitchen with no
impact. Add a room and they will increase your appraisal based upon
the sq. ft added. They wont reassess the entire property.
And before Prop 13 property taxes were in runaway mode wether you
improved it or not.

ScottW

LOL!! It sure did change it, because with Prop 13,'owners do
wahtever they can to avoid a trigger.

Youv'e been claiming it will trigger a reassessment of the entire
property value which is not true.



At least with prop 13 people have some money left to rennovate.
Before it, the government was destined to become the owner and
they're just soooo good at maintaining and rennovating.

ScottW

According to several articles I previously read, it is true.
Before Prop 13, ths govt was not destined to be the owner.