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Politics : Politics for Pros- moderated
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To: Lizzie Tudor who wrote (14671)10/31/2003 4:20:02 PM
From: Brian Sullivan  Read Replies (1) of 793618
 
With prop 13 in California your property taxes are fixed at 1% of the purchase price of your home.

In Washington State (no state income tax and no capital gains tax) the property taxes are about 1.5% of the current value of you home.

Property values for homes in the coastal area of California (within 80 miles of the coast) are at least 50% more expensive than here is Washington. So I don't see this as a significant difference in revenue to the two states.

I was never a big fan of Prop 13, I think that they should have only had personal residences eligible for the tax break and I would vote for the reform measure.

But you are deluded if you think that changing Prop 13 will fix the sky high taxes problems in California.

You should probably look at state spending per capita and state tax revenue per capita and compare with Texas, Washington, Colorado to see which state is way out of whack.

Also ask yourself which state is totally run by the Democrats? While I support abortion rights for women, I think that California voters would do themselves a big favor by voting for a few Republicans for jobs like State Treasurer even if the candidate is pro-life. It's not like the State Treasurer is going to change this law.

Has there been any proposal in California to address the capital gaisn taxes rate problem. The fact that California residents have to pay a 24.3% capital gains rate while nearby states like Nevada and Washington investors only pay 15%. It is something that would drive out any rational investor from California.
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