Another wrinkle in Prop 13 protected corporate property on sale. When
a homeowner sells the buyer pays taxes on the value appraised then, so
taxes on a particular property jump. A commercial sale can
potentially be structured so that it appears the owner remains. I
understand that this has gradually shifted more of the burden onto
residential property, though I have not looked into that.
Prop 13 was not a simple homeowners revolt. Jarvis-Gann drafted it
carefully.
Gene
On May 4, 2009, at 2:08 PM, Gar Lipow wrote:
On Mon, May 4, 2009 at 11:48 AM, Jim Devine <[email protected]>
wrote:
David B. Shemano wrote:
Tell me, specifically, who were the "powerful interests" that
intentionally mislead the gullible middle class? Prop 13, and
the debate about Prop 13, was as true an example of "democracy,"
meaning that the citizenry as a whole was actively and directly
engaged on a matter of public policy, that I remember in my
life. Average people normally politically disinterested were
engaged, became informed and argued with their friends and family
members.<<
I seem to remember at the time that Jarvis and Gann were backed by
large landlords. Prop 13 was specifically written to allow
reassessment at sale of property. Large landlords tended at the time
to hold on to their property while homeowners sold theirs when they
moved. So it was an immediate cut, plus a huge long term shift of
taxes (as a percent of value) from commercial property owners to
people who owned their own homes.
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