[quote=sdrealtor]The wealthiest guy in Palm Desert is the developer who put ptts in place many years ago. He just sits back and enjoys the gift that keeps on giving.[/quote]
You mean we could have imposed a 1% PTT when we sold and saved up for the Bugatti Veyron? At the market peak, you could have had bidding war on the PTT.
I just don’t have any imagination.
“PTTs that give developers, non-government entities and individual property owners the power to tax. The practice is allowed due to a gap in California law that lets developers and other private sellers to impose PTTs on home buyers every time the home is sold with no oversight, no accountability and no limit on the amount of the tax, or how many of these taxes can be “piled” onto the same home.
