In my opinion Proposition 4, lifting the lid on property taxes, is a really bad idea. There’s a good reason a lid was placed on how much property taxes could go up.
If you read Page 125 of your voters pamphlet, you’ll see just how much your property taxes will increase over five years — it’s plain scary. It starts out using $500,000 as assessed value. In Vancouver, that’s the median. Using $0.41 per $1,000 of assessed value of $500,000 as an example, it would add a little over $200 to your yearly tax bill. That’s just for beginners, your assessed value will go up over five years.
I lived in California when Proposition 13 was voted in. It was necessary because people were being taxed out of their homes.
