Perhaps it's time for progressive real estate taxes.
AKA roll back prop 13 but make it progressive. 1% on the first $250,000 worth of land, 2% on the next $250,000 to $1,000,000 worth and then 3% for anything over $1M.
Not by parcel, total.
AKA roll back prop 13 but make it progressive. 1% on the first $250,000 worth of land, 2% on the next $250,000 to $1,000,000 worth and then 3% for anything over $1M.
Not by parcel, total.
Simply individuals and businesses with real estate holdings over a $1M gets the nominal 2-3% property tax rate everyone outside of California enjoys.
Totally fair.
Difference between mortgage interest in a world of global finance and property taxes is property taxes pay for local services, where mortgage interest ends up who knows where. But it isn't paying for your communities roads, transit parks or schools, police and fire.