this post was submitted on 24 May 2026
575 points (99.1% liked)

Work Reform

16393 readers
725 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

Our Goals

founded 2 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] rf_@lemmy.world 17 points 4 hours ago

In California the property taxes are such that it punishes people that didn’t buy a house 30 years ago. The apartment I rent pays property taxes on a valuation of ~$250k. This property just went for sale at $1.2 million. Whoever buys it now will pay property taxes on a $1.2 million valuation, while right now due to how the law is structured, the current owner pays taxes on $250k.

It’s just a big fuck you by the system. The tax law was modified because they saw that if they kept increasing the tax proportionally with the market value of the home, soon a bunch people would lose their homes because wages are stagnant and home prices are rocketing. So they passed this cap that helps current homeowners.

I don’t know if there is a reasonable tax under these conditions where home speculation and investment-mindset inflates home prices while wages are stagnant and inflation is a bustling.