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

To: tejek who wrote (168777)	12/3/2008 4:57:00 PM
From: Peter V	Read Replies (1) \| Respond to of 306849

Prop 13 did not REDUCE taxes for new buyers, it simply kept them somewhat level from the time they bought. Yes, it did. Before Prop 13, new buyers paid taxes at a much higher rate than 1.25%. Whoops, you are right. en.wikipedia.org But I still find this stat interesting, as it suggests that despite Prop 13, property tax revenues have increased compared to personal income and general per capita revenue: According to the Center for Governmental Analysis, between fiscal years 2000 and 2005 property tax revenue has increased 22.11%, while personal income per capita has increased 13.80% and general per capita revenue 21.93%.