Solve the Proposition 13 problem by paying off the difference when you sell
Submitted by brad on Thu, 2018-05-17 11:03Even if you are not in California, you may have heard of Proposition 13 the ballot measure which changed property tax rules.
It was part of a tax revolt, and it changed how the value of your real estate is calculated for property taxes. As California property started zooming up in price, there were people who owned homes but had minimal incomes. They were facing growing tax bills even though they had not realized the gains on their house. Some were being forced out of houses they had lived in for decades, the story went.