[quote=NeetaT]I think it all boils down to the massive / alarming increase in the transfer of wealth from the private sector to the public sector. One example is property tax. Although it comes out to approximately 1.25% of 80% of the assessed value when you include assessments and voter approved bonds, the average property tax in San Diego, CA. is approximately $600.00 per month. On Average, if a person is paying $2,000.00 in rent, at least $500.00 of that rent is property tax baked into the rent. Now do you think for a minute that the government is going to lower the property tax percentage to lets say 1/2% of 80% of the assessed value to make housing more affordable? Not on your life! The government in CA is absolutely bent on doing whatever it can to add on new taxes and increase existing taxes. The transfer of wealth from the private sector to the public sector is what’s making people flee CA. The only reason that I am still in CA, is because my wife has a job that she can’t seem to get away from.[/quote]
I agree with your point that CA property taxes are high, and are one more reason to leave the state, although I could quibble with the numbers you present.
While Prop 13 limits property taxes to about 1.25% of property values and limits annual increases to 2% per year, Californians still pay more than the national average.
A $200,000 house in nearby states could cost about $600,000 in San Diego. A property tax of 2% of value there will cost $4000 per year. The same house in San Diego will pay $7500 per year in property taxes.
These numbers are approximate, of course. But the point remains that even with Prop 13 “protections”, Californians pay a lot in property taxes. And, BTW, Prop 13 is under attack and could well be altered in the years ahead.
