That's always the case. Parts of Manhattan used to be absolute squalor, the worst conditions a city had seen, complete slum housing packing 8 people in a bedroom. Now the area has changed and those same 1 bedrooms might go for 4k a month after a power wash and fresh primer. In Detroit, the city used to be very nice and developed instead of derelict before all the rich white people fled to the suburbs. Cities have never not changed, and it's shortsighted to think that they should exist in stasis when that's never been the case in the 10,000 years of history of cities on earth. I find it ironic that the generation which celebrated ripping out entire neighborhoods for interstates and airports and sports stadiums and parking lots complains when someone wants to build an apartment of all things in the lot across the street.
Prop 13 is a bind for people like your grandmother who live on fixed income and who anticipate living at a fixed level. This law insulated them from the housing market, yet they benefit from it's insulation from property tax when they do finally sell their 100k home, in the tax man's eyes at least, for 2m. In that case, surely it would be better to pay your back taxes when you sell, after you've realized your 2000% gain, but that just would make too much sense I guess.
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That's always the case. Parts of Manhattan used to be absolute squalor, the worst conditions a city had seen, complete slum housing packing 8 people in a bedroom. Now the area has changed and those same 1 bedrooms might go for 4k a month after a power wash and fresh primer. In Detroit, the city used to be very nice and developed instead of derelict before all the rich white people fled to the suburbs. Cities have never not changed, and it's shortsighted to think that they should exist in stasis when that's never been the case in the 10,000 years of history of cities on earth. I find it ironic that the generation which celebrated ripping out entire neighborhoods for interstates and airports and sports stadiums and parking lots complains when someone wants to build an apartment of all things in the lot across the street.
Prop 13 is a bind for people like your grandmother who live on fixed income and who anticipate living at a fixed level. This law insulated them from the housing market, yet they benefit from it's insulation from property tax when they do finally sell their 100k home, in the tax man's eyes at least, for 2m. In that case, surely it would be better to pay your back taxes when you sell, after you've realized your 2000% gain, but that just would make too much sense I guess.