In some states (e.g., California) the taxed value is not equal to the market val... | Hacker News

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		JMTQp8lwXL on April 26, 2020 \| parent \| context \| favorite \| on: Japan to subsidize 100% of salaries at small compa... In some states (e.g., California) the taxed value is not equal to the market value. Especially for home purchases made decades ago.

benrbray on April 26, 2020 [–]

Sounds like a problem that should be fixed by setting the tax value equal to market value.

JMTQp8lwXL on April 26, 2020 | [–]

Prior to 1978, that was indeed the case. Rising property values were kicking seniors on fixed incomes out of their homes, then Prop 13 was passed.

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