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

To: ild who wrote (12690)	8/20/2003 1:19:04 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Are you saying property is under-taxed here in CA? Yes, relative to other states property taxes are extremely low. This leads to higher, less affordable, home prices and periodic budgetary problems. In California, a person with a given income - say $120,000 per year - will live in a smaller yet more expensive home, pay more of their income in mortgage payments, pay less in property taxes, and pay more in other taxes. The tax structure in California is much more heavily weighted towards Income Tax, Sales Tax, and other fees and taxes. As pointed out before, this places the tax burden on the types of taxes which vary dramatically from year to year. Property Taxes are very stable which is why they form the cornerstone of tax support for other states. The current tax system in California subsidizes real estate at the expense of the general business community and working people. Californians are paying an increasingly heavy price to maintain their welfare system for property owners.