property taxes on that that have been basically grandfathered in for years and years and years he doesn't want to sell for this very reason and nolan so that makes a really good point but i'm just thinking if i'm a homeowner who has a home and i've been in there for you know 15 20 years i don't want my taxes to go up any higher so how does the split role work is that going to protect me as a homeowner

Totally.

Well, I think it's a good baseline on California policy is probably don't need higher taxes.

And so part of the discussion here is, and then I think the same thing, Prop 13 is really a third rail, right? A lot of folks, they like keeping their lower property tax bill.

The politics of that are very contentious, very complicated.

But one idea that's floated around has been to adopt a split role to say, okay, we're going to have a normal property tax system.

for commercial and industrial properties and then we're going to keep the prop 13 framework for current residential properties and it's trying to thread that needle to say okay let's there's a bunch of problems with this system in terms of of of you know forcing us to revenue raise revenue on other margins with high fees extremely high income and sales taxes uh so that's that's one problem but it also locks up a bunch of sites and especially for a lot of those you know you drive around certainly southern california i'm here i'm here in sacramento now after five years in la You see a lot of these commercial sites and they're really underdeveloped.

Do you think voter sentiment may have changed since 2020, since there appear to be some similarities to what happened with that proposition and what you're talking about now?

So what's the heart of that argument and what did zoning actually do?

So zoning is adopted in the United States in 1916.

And so we're just past the one century of having this very unique approach to regulating cities.

And in my book, I argue it's had a few effects.

One is it's... significantly constrain the housing supply, especially in some of the most in-demand places like California and the Northeast, places like New York City.

And so this has just driven a housing crisis.

Zoning has made it harder to build housing, both just building overall housing, but In particular, building more affordable forms of housing.

So at what point do you look at the results and say this isn't working the way we hoped it would?