We heard from the C.A.R. president last Friday about realtors joining with the firefighters to push for more tax breaks for seniors. Thanks to Liam who explained the newly-labeled Prop 19 on Twitter yesterday, and for providing the link to the actual calculations being made to justify the changes:
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Here is the legislative analysis:
If it’s retroactive, which I doubt, I will put the rental on the market as soon as the lease expires. Exchange for property outside of California. It’s hard enough to make any money on rentals here. There will be a lot fewer small landlords in the future as a result of this measure.
Ok Boomer
Bottom line, higher taxes via “blending” for people currently protected by Prop 90 et al.
Look forward to giant rent increases to cover the extra tax.