Re: 鈥淧roperty tax idea from a sa国际传媒 senior,鈥� comment, June 4.
California is well known for its unaffordable housing and that a high number of people with full-time jobs are homeless. The opinion piece identifies one of the policies contributing to this problem.
It seems unreasonable to complain about having to pay 鈥� actually defer at an interest rate below inflation 鈥� taxes on $1,145,000.00 in capital gains. The writer could sell the house and retire to a home in the countryside and live off the remaining funds from the sale.
I work 40-plus hours a week and can barely afford rent far from the downtown core.
The sale of homes near that core could make room for apartment buildings.
If homeowners want to block the natural and healthy increase of housing density in a city over time because they don鈥檛 feel like moving, they should be the ones to pay the costs.
The housing market is already inefficient. There鈥檚 no need to make it worse to protect people who have a net worth over $1 million.
Riley Nicholson
Victoria
