But if you still live in said house, you're actually LOSING money because of the... | Hacker News

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yzzxy on May 21, 2014 | parent | context | favorite | on: To Get a Home in San Francisco, First Get a $200,0...

But if you still live in said house, you're actually LOSING money because of the increased property taxes.

ben1040 on May 21, 2014 [–]

California law has put caps on the increase of assessed values, and a full re-assessment only happens when the property changes hands.

http://en.wikipedia.org/wiki/California_Proposition_13_(1978...

So if you've owned a property since the 70s you're most likely paying less in taxes than someone who'd buy it from you today.

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