[quote=gzz]I can say, with 100% certainty, that Prop 15 will CUT my property taxes by at least $160 per year.
One of its provisions:
“The business tangible personal property tax on equipment and fixtures for small businesses is eliminated.”
This an extremely stupid tax where every year I get a letter from the county asking me to value my business’s office equipment, computers, etc, and then pay 1% of it.
It reality, my business’s various well used PCs and old desks and chairs are not worth $16,000. But I am not fighting over the “suggested” assessment the County sent me, so I just pay the $160 every year.
The reason why this tax is so stupid is the large amount of paperwork involved over petty amounts. It is a bit like making a 16 year old with a part time minimum wage job fill out a full 1040 plus the AMT worksheet.[/quote]
if you think its bad now this will be considered the good times if this clusterfuck passes
FYI the association of CA assessors mentioned they are against this mess because they estimate it will take a billion dollars to implement and they say it won’t work
AND that does not take into account the non-linear response of jobs and capital leaving the state because of uncertainty
since a picture is worth a thousand words
FYI the two URLs listed in the graphic image are redirects to PDFs I’ve posted on GoogleDocs (that contain all the full text studies like the association of CA assessors, etc.)
