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

To: J. P. who wrote (12930)	8/22/2003 11:02:56 AM
From: Drygulch Dan	Respond to of 306849

All depends on whose view of "getting by" you have. Look, its not all that hard. Jarvis Gann happened because the tax and spenders were wreaking havoc on the property owners. They were jacking 'em up for all they could get. It was onerous! Trust me. Anyway, don't confuse all governments with each other. Property tax monies are not state monies. This is where the fuzzy thinking begins. And it begins in Sacto. So what the hell is so painfully unjust with taxing a buyer based on what that buyer thinks her property is worth? Once that point is established, the tax rate increase is set at a reason slope. What is unfair there? The local gov't has figured ways to end run this with their constant special assessments anyway. So they jack it up to about 2% depending on their needs and all the renters vote for these bonds and special assessments as they come along. And all the property owners pay for these. Its a minor league way of transferring the wealth from the have's to the have not's. State government in CA is very well funded by other revenue streams, thankyou! We pay 8.25% on every damn transaction in the state! And then another 10 - 15% for income taxes. How much does your state collect? What the hell does the state do with all this money? Why can't they undergo a bit of retrenchment at times? Ever heard of a government layoff? Me neither. These are vast sources of wealth for the state. Managed wisely, there will be plenty of surplus to fund the Davis Debt overhang. And 20 years from now CA state bonds will be worth something again. The economy has soured, its time for the gov't to trim back in kind. End of the world thinking for some.