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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Broken_Clock who wrote (205410)5/31/2009 2:54:31 AM
From: Steve_CRead Replies (2) of 306849
 
Grandpa, you're confused. I gave an example of a "tax break" that resulted in a lower home price. In direct contradiction to Jimmy's belief that "tax breaks" always result in higher home prices. It was a stylized example designed to jump start jimmy into thinking like an economist.

But, stylized or no, the example mirrors the fact that prior to Prop 13, "wealthy" areas paid a higher percentage of property tax per home value than "poor" areas. While it's always difficult to hold other things constant, many studies found that higher taxed communities had higher home prices when all other factors were considered (largely because of perceived differences in educational services). This resulted eventually and very indirectly in the passing of Prop 13.

Why am I bothering with you dregs?
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