[quote=jpinpb]After Prop 13 in the later ’70’s didn’t they come up w/a way to get extra money for schools? Wasn’t some of the money derived from the Lottery supposed to go to schools?
I understand that money is needed for cities and states to function and operate. However, I think that there is a great deal of mismanagement of funds.
I get very upset about discussion of lack of money in this state b/c people over the past decade of this bubble were paying 2 to 3 times the amount of property taxes due to the value of the properties doubling and the flipping going on.
Where did all the money go? I’ve said this before. It’s like being in Vegas at a magic show. The money disappears and the more you give, the more it vanishes into the black hole.
I think if they get rid of Prop 13, it would be the nail in the coffin for real estate in California. JMO.
While I would like prices to come down, I don’t think Prop 13 will help people. I’d like to think it would help the finances of this State, but as already mentioned, that is a bandaid.
People can’t manage their money, and cities and states are equally unable to manage money.[/quote]
Very well said, jp! Agree 100%.
People **choose** to pay higher property taxes when they **choose** to overpay for property. If they don’t know enough to take full PITI payments into consideration when buying, then they shouldn’t be buying.
