Question for You Californians Who Enjoy Food.
I don't have to tell you groceries cost too much. Same here in the Midwest.
But how much do you think you will have to pay if your long-time favorite local grocery store's property taxes increased twenty or thirty fold?
Don't worry about those calculations because they won't raise their prices. Instead, they will shut their doors and you will have to shop at a store built more recently if older stores (around in the same location for 20-40+ years) see their property values reassessed at current values.
Sure, many stores rent the land and/or the building from landlords. But those landlords would see their property taxes skyrocket if Prop 13 was repealed. And they will pass on that cost to grocers and other retailers that elect to stay.
Of course, with less competition guess what that will do to prices at the newer-built stores.
So, if you thought Trump's tariffs caused a spike in prices, you just wait for the other shoe to step on you.
But how much do you think you will have to pay if your long-time favorite local grocery store's property taxes increased twenty or thirty fold?
Don't worry about those calculations because they won't raise their prices. Instead, they will shut their doors and you will have to shop at a store built more recently if older stores (around in the same location for 20-40+ years) see their property values reassessed at current values.
Sure, many stores rent the land and/or the building from landlords. But those landlords would see their property taxes skyrocket if Prop 13 was repealed. And they will pass on that cost to grocers and other retailers that elect to stay.
Of course, with less competition guess what that will do to prices at the newer-built stores.
So, if you thought Trump's tariffs caused a spike in prices, you just wait for the other shoe to step on you.
36-40, F
