Trump Blasts ‘California Dade’ Phelan’s Property Tax Plan

[Elderberry]

Texas Scorecard by  Brandon Waltens   | April 30, 2023

Lt. Gov. Dan Patrick received some high profile assistance in his crusade against the House’s appraisal cap plan.

The battle between Lt. Gov. Dan Patrick and House Speaker Dade Phelan over competing property tax relief plans is heating up, with former President Donald Trump throwing his support behind Patrick’s proposal.

Both the House and Senate have passed differing versions of property tax relief. The Senate’s proposal would increase the homestead exemption from $40,000 to $70,000 and allow seniors or disabled adults to get an additional $30,000. The House’s version, meanwhile, would reduce the maximum compressed rate for school taxes and limit how much the taxable value of a property can increase each year.

Patrick has repeatedly criticized Phelan’s proposal as being similar to appraisal caps implemented in California which he blames for destroying their housing market, giving Phelan the nickname “California Dade” in the process.

More: https://texasscorecard.com/state/trump-blasts-california-dade-phelans-property-tax-plan/

[GtHawk]

I'm confused about two things, one is why is Trump sticking his nose into Texas's internal politics and two....exactly how did Prop 13 in California depress the housing market and where did this depression occur? Because since the mid 80's even with all the economic upheaval I have never seen a depressed housing market anywhere around me, at least not different than economics caused in other states.

[Elderberry]

California’s Housing Market is Falling Off a Cliff: NEW Report

Jason Walter

 Feb 17, 2023 

Home prices dropped to nearly a two year low for the California housing market as the number of homes for sale surged by 65% from last year. Based on my analysis of the California Association of Realtor’s data, the median sold price in the state has now declined by 17% over the past 8 months alone. In addition, home prices have decreased by 1.9% over the past 12 months. Excluding May 2020 (onset of COVID), this is only the third year-over-year decrease in the median sold price since February 2012 for the California real estate market. This is your latest California real estate market update based on a brand new report from the California Association of Realtors (CAR).


https://www.youtube.com/watch?v=vB2i41f8Ulc

[GtHawk]

California’s Housing Market is Falling Off a Cliff: NEW Report

Jason Walter

 Feb 17, 2023 

Home prices dropped to nearly a two year low for the California housing market as the number of homes for sale surged by 65% from last year. Based on my analysis of the California Association of Realtor’s data, the median sold price in the state has now declined by 17% over the past 8 months alone. In addition, home prices have decreased by 1.9% over the past 12 months. Excluding May 2020 (onset of COVID), this is only the third year-over-year decrease in the median sold price since February 2012 for the California real estate market. This is your latest California real estate market update based on a brand new report from the California Association of Realtors (CAR).


https://www.youtube.com/watch?v=vB2i41f8Ulc

Well I guess it's the old saw, location, location, location, because the zipcodes around me haven't seen the issue.

[Smokin Joe]

Well I guess it's the old saw, location, location, location, because the zipcodes around me haven't seen the issue.

I can see where some neighborhoods would retain that desirability premium, and also where people are hot to get out, there might be factors affecting the desirability of those areas as well.

Maybe some study of the fleeing relocating demographics and income levels might shed more light on who is looking to cash in that equity and use it elsewhere, be it because of encroaching high crime areas, homeless invasions, or taxes (among other things).