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

To: Lizzie Tudor who wrote (168558)	12/3/2008 12:51:17 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 306849

Lizzie, nobody is "ripping off their kids." it is funny how you blame elderly folks for "ripping off kids" while not focusing on the crooks in government who blew $200 million on a failed payroll system in LA unified school district. i like the law. i wish it had been instituted well before 1978. the law has actually protected me (i could be one of their children, ya know?), then again, i didn't get all stupid and pay triple for what a home was worth. nor would i have gotten that stupid. i would've moved to a place i could afford. and yes, if my property tax tripled as the idiots lined up to leverage their life just before walking away leaving everyone else holding the bag (those responsible people like me who actually avoid fiscal irresponsibility and pay their obligations) - I WOULD BE PISSED OFF! as it stands, only those who got all reckless have to pay reckless property taxes - and there is something good about that, imho. real good. btw, those people do see increases in their property tax - it is just limited to a couple percent a year. actually, that is reasonable appreciation. you would do much better to blame the government for creating a credit bubble and blame the idiots who bid up home prices to absurd levels (and well over 2% per year). they have robbed the children, as it were. oh, and with a little luck, your property tax may well get cut in half. won't that be a happy day for you when you pay the same property tax as your neighbors?

To: Lizzie Tudor who wrote (168558)	12/3/2008 1:16:38 AM
From: tejek	Respond to of 306849

yeah I knew the rules. I am not complaining about paying taxes, my objection is your assertion that people that bought 40 years ago and then passed a law to cap their taxes at 1978 levels were "smart". I think that was the beginning of the end of the old CA. Similar proponents have tried to pull the same stunt in the PNW. It hasn't worked in WA state but it did to some degree in OR and the Portland school district ran out of money a couple of years back. IMO Prop. 13 was the worst thing that ever happened to CA.