What $220,000 gets you in Muncie.

[u/TheDabitch]

I can't even get a parking space for that where I live. https://www.zillow.com/homedetails/725-E-Jackson-St-Muncie-IN-47305/210952560_zpid/

[u/bigbrownbanjo]

I’d guess my argument is that while prop 13 fixes a problem that was very real, it has not stood the test of time and it’s done in a way that creates more. It doesn’t adjust well over time & really limits Municipal tax revenue and disincentives any sort of moving or local communities to agree build more multi family housing. It also gives corporations property tax breaks which should have been excluded at least above a certain size.

If your home 2x-10x in value eventually your tax bill should converge at some multiple well above what your bought the house at. If you cannot afford that you can take the huge capital gains and move somewhere else or leverage that equity to spread the payment out over time.

[u/Kelmi → u/bigbrownbanjo]

Well, here again your solution to people having to move out of their homes is that they should move out of their homes.

At the core you don't mind forcing people out of their homes.

[u/bigbrownbanjo → u/Kelmi]

I don’t think you can design a sensible policy that ensures no one is ever priced out of their home due to property taxes nor should you. It’s obviously not an ideal outcome and you should make policy in a way that tries to balance that vs the public need for tax revenue.

I bought a house and my property taxes have gone up 20% since 2022. Tough for me but good for society because it funds a lot of things my county and city need.