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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 379.91+0.4%4:00 PM EST
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To: GoldBull no bug here who wrote (5002)3/25/2006 1:03:08 AM
From: energyplay  Read Replies (1) of 217671
 
I expect to see a separation of residential and commercial property taxation. So the commercial side will get hit, they have kept thier taxes down by selling the corp. that own s the property, instead of the property. This keeps the valuation from being changed.

The legislature could try to repeal Prop 13 for residential :
but with initiatives and recalls that would be stopped.

The percentage of families owning homes has increased somewhat since Prop 13 was passed, and home owners vote.

I expect a repeal is very unlikley.

Besides, California state government really doesn't need more money - they get +7% sales tax (sahred with local governments), there is a heavy income tax with no lower rate for capital gains.

California has had big raises for many employess under Gray Davis, and lots of stupid spending of politically correct stuff.

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To repeal Prop 13 will require more left Democratic voters who don't own property. High costs in California tend to cause poorer CITIZENS and VOTERS to move to other states. They tend to replaced with people who can't vote, at least not for a number of years...

Property values in Compton (a rought town in LA, one old rap album was called "Straight out of Compton") are soaring as the neighborhood gets better.
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