The Block That Prop 13 Built
2019-07-16 22:28:43.30715+02 by Dan Lyke 0 comments
Southern California Public Radio: California Dream Series — The Block That Prop 13 Built:
In most states, the property tax you pay depends on how much your house is worth now. The nicer the home, the more you pay. But because of Prop. 13, property taxes in California are pegged to the value of a house when it was purchased.
That’s why owners on this block pay such wildly different property taxes for very similar properties. Decades-long owners of a 1,300 square foot home on one end of the block paid $1,168 in property taxes last year. New homeowners with a smaller home on the other end of the block paid almost 10 times that amount. Two very similar homes, two incredibly different property tax bills.