Bay Area Real Estate Recovery Bolsters Proposition 13

The recovery of the Bay Area’s real estate markets has muted the public outcry to change Proposition 13’s restrictions on assessed value increases. Passed in 1978, Proposition 13 has come under fire for fostering unequal tax burdens.
The reasons that tax-reform fervor is weakening are twofold. First, as the recovery spurs real estate sales, properties will be reassessed at higher market values under Proposition 13’s acquisition value system. Second, recent sales are also …

Article source: http://nreionline.com/san-francisco/bay-area-real-estate-recovery-bolsters-proposition-13

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