The Benefits of Prop. 13
In reply to Robert Jones’ column (“Coast Letter: Yes, There’s Life After Prop. 13,” Feb. 26): I think people fail to understand exactly what the situation is.
We bought a house in 1971 for $60,000--new, but totally without landscaping. We were just able to qualify for a loan to cover PITI--principal, interest, taxes and insurance--on my husband’s income. We and our children did the landscaping over a period of years.
There was appreciation on the property, but our income was not appreciating.
If five years later, someone purchased the house next door for $200,000, they would have to have had enough income to be able to buy it. We would not have been able to.
And if our taxes doubled and tripled as houses around us were sold at higher figures, we would not be able to afford to live in our home.
PEGGY SEITZ, Mission Viejo