At least Romney is doing his part to help close the California budget gap. After buying the La Jolla Property its annual property taxes shot up from a ridiculously low $4,375 in ’08 to $134,909 in ’09.
Wonder how many more multi-million dollar estates are underpaying by a factor of 30 thanks to good ol’ Prop 13? Probably could fix our whole budget problem just by property tax reform.
