Any Residential Landlords?

[newbury]

Prop 13 which indexes Property tax based on value at the time acquired

That is going to be a boat anchor.
All of my properties (in Virginia, Vermont and Mississippi) are subject to taxes based on assessments "updated" annually. Though some in Mississippi don't get changed that often. And in Virginia they actually went down for one year, since 1975.

 

[ultrarunner]

That is going to be a boat anchor.
All of my properties (in Virginia, Vermont and Mississippi) are subject to taxes based on assessments "updated" annually. Though some in Mississippi don't get changed that often. And in Virginia they actually went down for one year, since 1975.

Prop 13 fixes the base Statewide Rate at 1% of value at the time of transfer plus a 2% annual inflation cap... it applies to all assessed real estate equally... one if the reasons I had so many elderly neighbors able to remain in their homes and not be forced out.

The couple that built my previous home paid $1200 property tax and the moment I bought it went to $8800.

My current home the couple that built it paid $4500 and I'm just under 20k

The other component of Prop 13 is voter approval for additional property taxes and the voters of my city have approved something like 26 special assessments ranging from midnight basketball to streetlights

Voters in the unincorporated county have not been so generous in approving additional property taxes yet by every measure have better government services and therein lies the conundrum that more money does not equate to better government... otherwise Oakland and San Francisco would have the best of the best.

Property tax rate of about 1.1 percent county vs 1.6 city...

My brother and I both bought at the same time and paid the same for our current homes... I'm in the city and he is in the county so every year we compare and it costs a lot more to be in the city limits... one striking example is city private school is seen as a must but where he is everyone is public school with amazing public schools???

 

[newbury]

the conundrum that more money does not equate to better government.

It equates to more funding. The government (elected officials AND the ones they hired) have been known to waste money that is not theirs.
It's the responsibility of the people to elect the right officials.
(But that's treading on thin ice so if anyone finds that to political let a mod cut it)

 

[2manyrocks]

Don't know how it will play out, but I get the impression that LA has limits on how much a residential landlord can increase rent. After the LA fires, I've read that many landlords have jacked rents considerably despite the city's rent controls.