The reason I mention toll roads is b/c the money they derive from that is to take care of the roads. Hence the monies generated from the high property taxes theoretically is not for highway maintenance/repair. While they have snow and ice, we have sun beating down on our roads all day. One could argue the heat does as much damage. Not to mention the rains we get in the winter. Plenty of flooding causing road damage.
But however the money is generated and spent in NJ, they have managed to use it and still be in the hole. Do people really think that if we give the State of California more money that we will be in the black and fiscally healthy again?
I’m not even a gambler, but I’ll bet that we will eat through any money generated and be in the hole again in no time.
But the talk of the revenue was b/c some arguments are to repeal Prop 13 b/c the state needs more money. Besides property tax and sales tax, we have money from the lottery. We have money from cigarette tax, gasoline tax, etc, etc. The list is long. The more we give, the more they use, the more they want.
I just think even though we are paying higher taxes than someone who bought in the ’70’s, at least there is a limit to how high they can raise it. If I bought today, at least I know the taxes won’t keep going up to infinity and beyond.
If hypothetically 10, 20 or 30 years from now property values go up to ridiculous levels in another bubble, I’ll be a senior by then. At least my taxes won’t rise to the next bubble levels.
Without Prop 13, I could see property taxes going through the roof. It will make it extremely difficult for people to afford to maintain a house.
While there are rich people in LJ paying low taxes, Prop 13 really helps any homeowner. Look at the big picture. Many middle class people own homes throughout California.
