(3/3) In other words….Prop 13 still sucks, and land value tax would solve this.

(2/3) However, as far as I can tell, the paper is not arguing that property taxes are actually passed on to the tenant. The rent is still set by the market, and the maximum rent that a landlord could get away with charging would not increase if property taxes were raised tomorrow.

(1/3) Interesting.... Basically, the proposed explanation in the paper is that long-time landlords are more inattentive to the rental market, and are therefore more likely to charge rent that is below-market compared to landlords that just bought a property.

my king