ST Alpha - "So wait, California is bankrupt but they have property taxes capped at ridiculously low levels? Can nobody there add two and two? -- nm" (Reading a Post)

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So wait, California is bankrupt but they have property taxes capped at ridiculously low levels? Can nobody there add two and two? -- nm

Posted by Tim (aka othertim) Feb 17 '09, 23:08

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Responses:

property values are insanely high, though. -- nm - loosilu Feb 18, 05:33
You could argue that they are capped at rediculously high levels if you bought your house at pre-collapse rates. - zeitgeist Feb 17, 23:27 3
- They have the highest other taxes in the land becuase they capped the property tax increases with Prop 13. - Will Hunting Feb 18, 02:55
- They passed a tax cap law here that will slowly strangle the counties, a 1% cap on revenue increase per year, which means a few years inflation will - zeitgeist Feb 17, 23:32 1
  - Here In WA there's less incentive to invest in public stuff, like they Viaduct they want to remove, normally all those open vistas would propel real.. - zeitgeist Feb 17, 23:35
That was due to Proposition 13 -- nm - eag Feb 17, 23:12
Of course wouldn't raising them possibly cause more foreclosures? -- nm - Dano Feb 17, 23:09

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