SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Selectric II who wrote (12417)8/15/2003 11:38:44 PM
From: GraceZRead Replies (4) of 306849
 
What bothers me is, why isn't he pissed off for having to pay almost $1200 a month in RE taxes on that 500k house in Omaha? His conclusion is that RE taxes in CA are too low? I guess he figures he's rich so he should pay more, but a lot of people who aren't rich live in houses that would sell for 500k, they just bought them years and years ago. The house my parents bought in the 50s for 13k sells for 500k today. If they still lived there, $1200 a month in RE tax would force them to sell their home. Contrary to popular belief you can't eat unrealized real estate gains which are mainly due to inflation.

California's problems have to be solved on the spending side. I'm suppose to be from a high tax state but there's no comparison. We have a 5% sales tax and my RE taxes are around $2200 on all three houses I own. We have a 7% state income tax. If they don't solve the problem on the spending side they'll simply bring on what every other area that tries to resolve it's budget problems with higher taxes gets, an out flow of people, jobs and businesses.

The one thing that bothers me about prop 13 is that whenever you have a tax that is applied unevenly it means that those people who get relief could care less about those people who get shafted so the opposition to new spending doesn't build to the necessary critical mass. If people can say to themselves, well that doesn't effect me, so I don't care it only allows the government to keep ratcheting up the spending which they did while the boom was on, when people needed help the least!
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News