Only ~700k of the 7M homes are open to lot splitting.
This policy will raise prices faster by squeezing SFH supply and likely only a <30% of the 700k homes will want to have their property tax rates re-assessed.
There are 5M USD homes in California that pay 10k/yr in property taxes.
Nobody wants to abandon their property tax legacy.
This policy will raise prices faster by squeezing SFH supply and likely only a <30% of the 700k homes will want to have their property tax rates re-assessed.
There are 5M USD homes in California that pay 10k/yr in property taxes.
Nobody wants to abandon their property tax legacy.