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Gold Coast's Prop 13 Beneficiaries

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Most of us are quite familiar with Prop 13, the 1978 amendment that froze property taxes and allowed increases of only 2 percent a year, as long as a property wasn't sold. A story on the just-launched Bay Citizen explores some of the disparities this has caused on the Gold Coast, a few blocks of very, very nice houses on Broadway, from Divis to the Presidio. Maryon Lewis, for example, pays 58 cents per square foot on her roughly $21 million house, while Bebo founder Michael Birch pays $42.65 per square foot on his $29 million house — 73.5 times more. In fact, Birch is paying the highest taxes on a single residence in the city. [Bay Citizen]