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CA historically has pretty volatile housing prices.
Doesn't that increase the unfairness of the property tax system? Buy a house when prices are up and you're stuck forever.
It really does make sense not to price someone out of their home, which they could afford just fine when they bought it, just because their neighbor's home went up in value and the tax assessor wants to asses at the new price point. Putting a limitation on the increase of such taxes makes sense for residential properties.
This sounds a little like arguments for rent control. Not exactly the same of course, but aren't some of the effects similar?
Idiocy Comes Home To Roost
by hilzoy Bloomberg (h/t Paul Krugman): "Just $5 million of work is needed to complete a new California Court of Appeals building in Santa Ana. The state may not have the money, and come July judges may be writing opinions in their living rooms. "I've been on the bench for 23 years, and I've ne...
Thanks, btfb.
Saturday Poetry Blogging
by hilzoy Over at Ta-Nehisi's blog, I found a wonderful poem by Elizabeth Alexander, who has been invited to write a poem for Obama's inauguration. It's 'Hottentot Venus', about a woman from what is now South Africa who was taken to Europe and exhibited throughout Europe. When I was 12 or 13, I s...
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