For example, you could deduct the market rate taxes that would've been paid from the eventual sale price.
You could also give people a choice: they can either pay property taxes based on an artificially low valuation, and then sell at that low valuation, OR they can choose to accept the market rate property taxes and be able to sell at market rate.
Another thing that could be done is only apply Prop 13 to:
- Residential property, not commercial
- Only your primary residence, not second homes or homes you rent out
- People who bought the home, not their kids they left it to in a will
- People for whom the increase in property taxes represents an actual burden relative to their income
For example, you could deduct the market rate taxes that would've been paid from the eventual sale price.
You could also give people a choice: they can either pay property taxes based on an artificially low valuation, and then sell at that low valuation, OR they can choose to accept the market rate property taxes and be able to sell at market rate.
Another thing that could be done is only apply Prop 13 to:
- Residential property, not commercial
- Only your primary residence, not second homes or homes you rent out
- People who bought the home, not their kids they left it to in a will
- People for whom the increase in property taxes represents an actual burden relative to their income