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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (12655)8/19/2003 8:18:43 PM
From: JF QuinnellyRead Replies (2) | Respond to of 306849
 
I live in Orange County, and its bankruptcy had nothing to do with Prop 13. The County Treasurer, Robert Citron, illegally diverted funds into some very risky derivative trades, of which he had only the most meager understanding. His position went sour when interest rates rose, and he was convicted on a number of felonies for his part in losing Orange County $1.6 billion.

gsm.uci.edu



To: Elroy Jetson who wrote (12655)8/20/2003 11:55:43 AM
From: ildRead Replies (1) | Respond to of 306849
 
<<<The problems caused by Prop 13 >>>

Are you saying we are under taxed here in CA?
Houses in California are a lot more expensive than in other states, so even with Prop 13 the tax collected is significant.
I think the first question should be: How much money does the California government need? I understand that the government will spend 120% of everything it can get, but is there an analysis of how much is reasonably needed?


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