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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (30804)5/6/2005 2:38:09 PM
From: Ramsey SuRead Replies (1) of 306849
 
With the huge increase in property tax revenue, California government at all levels found ways to spend even more while providing less. We should be flooding in surplus instead having the type of problems we are having in the City of San Diego.

Just think there are people stupid enough to want to repeal prop 13, might as well just give the politicians your check book.

Regarding prop tax foreclosures, the municipalities seldom worry about it since they are always senior to almost all liens. A mortgage is in automatic default if the borrowing is delinquent on property taxes. So when a borrower stops paying property taxes, it is usually the most junior lien holder who would step up to the plate and foreclosure, since they would be most at risk.
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