Thoughts on property taxes and Prop 13

[an]

[quote=jpinpb][quote=AN]Could it possibly just mean that the majority of home owners bought their house long time ago, so they’ll still be hit w/ the increase, since their appraised value for tax purposes is way under the current value.[/quote]

Not even close to what it should be for those that bought in the ’70’s and ’80’s.[/quote]
I’m not debating whether the tax people pay for houses they bought in the 70s/80s is close to what it is at today’s market value. What I’m trying to say is if the majority of property tax payer own their house before 2003, the 2% increase in that majority will more than enough to offset the tax decrease of houses that were bought in 2004-2008. That’s why we’re seeing record property tax total even as housing price fall.

[moneymaker]

The more I think about it the more it pisses me off. The cities and counties collect a whole lot of taxes, yet our services from them is diminishing. It’s like when they started the Lottery and said the profits would go to education. Well I think we all know now they go into a general fund to be dispersed as politicians see fit. In the mean time we have potholes that need filling and that could mean jobs for the unemployed. Are police ,sheriff,and city workers getting paid too much? I don’t get it, is there embezzelling going on? Similar to this case http://www.foxnews.com/story/0,2933,506786,00.html

[moneymaker]

The more I think about it the more it pisses me off. The cities and counties collect a whole lot of taxes, yet our services from them is diminishing. It’s like when they started the Lottery and said the profits would go to education. Well I think we all know now they go into a general fund to be dispersed as politicians see fit. In the mean time we have potholes that need filling and that could mean jobs for the unemployed. Are police ,sheriff,and city workers getting paid too much? I don’t get it, is there embezzelling going on? Similar to this case http://www.foxnews.com/story/0,2933,506786,00.html

[moneymaker]

The more I think about it the more it pisses me off. The cities and counties collect a whole lot of taxes, yet our services from them is diminishing. It’s like when they started the Lottery and said the profits would go to education. Well I think we all know now they go into a general fund to be dispersed as politicians see fit. In the mean time we have potholes that need filling and that could mean jobs for the unemployed. Are police ,sheriff,and city workers getting paid too much? I don’t get it, is there embezzelling going on? Similar to this case http://www.foxnews.com/story/0,2933,506786,00.html

[moneymaker]

The more I think about it the more it pisses me off. The cities and counties collect a whole lot of taxes, yet our services from them is diminishing. It’s like when they started the Lottery and said the profits would go to education. Well I think we all know now they go into a general fund to be dispersed as politicians see fit. In the mean time we have potholes that need filling and that could mean jobs for the unemployed. Are police ,sheriff,and city workers getting paid too much? I don’t get it, is there embezzelling going on? Similar to this case http://www.foxnews.com/story/0,2933,506786,00.html

[moneymaker]

The more I think about it the more it pisses me off. The cities and counties collect a whole lot of taxes, yet our services from them is diminishing. It’s like when they started the Lottery and said the profits would go to education. Well I think we all know now they go into a general fund to be dispersed as politicians see fit. In the mean time we have potholes that need filling and that could mean jobs for the unemployed. Are police ,sheriff,and city workers getting paid too much? I don’t get it, is there embezzelling going on? Similar to this case http://www.foxnews.com/story/0,2933,506786,00.html

[temeculaguy]

threadkiller, despite how it looks, the problem is that state, looks like there will be a ballot initiative to try and prevent it.

http://www.dailybreeze.com/news/ci_14167915?source=rss

It’s like having an unemployed big brother who steals your babysitting money just cause he’s bigger than you. The state forcibly borrows the locals property tax or gas tax or whatever in order balance their budget rather than making cuts. Then the locals have to cut services because they don’t have any younger siblings to steal from, despite making as much or more money. It’s a commonly held belief that Souther Cal, and San Diego in particular sends far more money to sacramento than it gets back. I believe it was Agoston Hazarthy who in the mid 1850’s, who was from San Diego, just as the state began, who put a motion on the assembly floor to split California into two states, Southern and Northern, if failed but it’s been a good idea for so cal in the 150+ years since. Somehwere in Sacramento there is probably a bridge that your property taxes paid for.

[temeculaguy]

threadkiller, despite how it looks, the problem is that state, looks like there will be a ballot initiative to try and prevent it.

http://www.dailybreeze.com/news/ci_14167915?source=rss

It’s like having an unemployed big brother who steals your babysitting money just cause he’s bigger than you. The state forcibly borrows the locals property tax or gas tax or whatever in order balance their budget rather than making cuts. Then the locals have to cut services because they don’t have any younger siblings to steal from, despite making as much or more money. It’s a commonly held belief that Souther Cal, and San Diego in particular sends far more money to sacramento than it gets back. I believe it was Agoston Hazarthy who in the mid 1850’s, who was from San Diego, just as the state began, who put a motion on the assembly floor to split California into two states, Southern and Northern, if failed but it’s been a good idea for so cal in the 150+ years since. Somehwere in Sacramento there is probably a bridge that your property taxes paid for.

[temeculaguy]

threadkiller, despite how it looks, the problem is that state, looks like there will be a ballot initiative to try and prevent it.

http://www.dailybreeze.com/news/ci_14167915?source=rss

It’s like having an unemployed big brother who steals your babysitting money just cause he’s bigger than you. The state forcibly borrows the locals property tax or gas tax or whatever in order balance their budget rather than making cuts. Then the locals have to cut services because they don’t have any younger siblings to steal from, despite making as much or more money. It’s a commonly held belief that Souther Cal, and San Diego in particular sends far more money to sacramento than it gets back. I believe it was Agoston Hazarthy who in the mid 1850’s, who was from San Diego, just as the state began, who put a motion on the assembly floor to split California into two states, Southern and Northern, if failed but it’s been a good idea for so cal in the 150+ years since. Somehwere in Sacramento there is probably a bridge that your property taxes paid for.

[temeculaguy]

threadkiller, despite how it looks, the problem is that state, looks like there will be a ballot initiative to try and prevent it.

http://www.dailybreeze.com/news/ci_14167915?source=rss

It’s like having an unemployed big brother who steals your babysitting money just cause he’s bigger than you. The state forcibly borrows the locals property tax or gas tax or whatever in order balance their budget rather than making cuts. Then the locals have to cut services because they don’t have any younger siblings to steal from, despite making as much or more money. It’s a commonly held belief that Souther Cal, and San Diego in particular sends far more money to sacramento than it gets back. I believe it was Agoston Hazarthy who in the mid 1850’s, who was from San Diego, just as the state began, who put a motion on the assembly floor to split California into two states, Southern and Northern, if failed but it’s been a good idea for so cal in the 150+ years since. Somehwere in Sacramento there is probably a bridge that your property taxes paid for.

[temeculaguy]

threadkiller, despite how it looks, the problem is that state, looks like there will be a ballot initiative to try and prevent it.

http://www.dailybreeze.com/news/ci_14167915?source=rss

It’s like having an unemployed big brother who steals your babysitting money just cause he’s bigger than you. The state forcibly borrows the locals property tax or gas tax or whatever in order balance their budget rather than making cuts. Then the locals have to cut services because they don’t have any younger siblings to steal from, despite making as much or more money. It’s a commonly held belief that Souther Cal, and San Diego in particular sends far more money to sacramento than it gets back. I believe it was Agoston Hazarthy who in the mid 1850’s, who was from San Diego, just as the state began, who put a motion on the assembly floor to split California into two states, Southern and Northern, if failed but it’s been a good idea for so cal in the 150+ years since. Somehwere in Sacramento there is probably a bridge that your property taxes paid for.

[jonnycsd]

This makes sense to me. Figure the revenue is driven by change in ownership triggering a higher tax basis – and there is also some new property too. The retired couple sells the SFR to move into a condo or assisted living place, and that may double or triple the tax basis on that property. And even though sales are off from the peak, they are still pretty decent in both valuation and volume from a long term perspective. Also, this revenue stream includes commercial as well as residential so gotta look at that too – new tanks at the gas station? A face lift at the strip mall? A new medical office building? All that figures into the equation. Plus all that stuff that hasn’t changed hands in decades still gets the 2% bump each year, right?

The big “ah ha!” for me is how this is another crystal clear data point demonstrating that we have a spending problem and not a revenue problem. Pensions, corrections and schools are the areas where spending increases have been the greatest – and the citizens are not getting value for money in any of these areas. State Employee unions are driving it – basically holding the politicians hostage by threatening to block-vote them out of office unless they play along. Welcome to clientelismo third world government.

[jonnycsd]

This makes sense to me. Figure the revenue is driven by change in ownership triggering a higher tax basis – and there is also some new property too. The retired couple sells the SFR to move into a condo or assisted living place, and that may double or triple the tax basis on that property. And even though sales are off from the peak, they are still pretty decent in both valuation and volume from a long term perspective. Also, this revenue stream includes commercial as well as residential so gotta look at that too – new tanks at the gas station? A face lift at the strip mall? A new medical office building? All that figures into the equation. Plus all that stuff that hasn’t changed hands in decades still gets the 2% bump each year, right?

The big “ah ha!” for me is how this is another crystal clear data point demonstrating that we have a spending problem and not a revenue problem. Pensions, corrections and schools are the areas where spending increases have been the greatest – and the citizens are not getting value for money in any of these areas. State Employee unions are driving it – basically holding the politicians hostage by threatening to block-vote them out of office unless they play along. Welcome to clientelismo third world government.

[jonnycsd]

This makes sense to me. Figure the revenue is driven by change in ownership triggering a higher tax basis – and there is also some new property too. The retired couple sells the SFR to move into a condo or assisted living place, and that may double or triple the tax basis on that property. And even though sales are off from the peak, they are still pretty decent in both valuation and volume from a long term perspective. Also, this revenue stream includes commercial as well as residential so gotta look at that too – new tanks at the gas station? A face lift at the strip mall? A new medical office building? All that figures into the equation. Plus all that stuff that hasn’t changed hands in decades still gets the 2% bump each year, right?

The big “ah ha!” for me is how this is another crystal clear data point demonstrating that we have a spending problem and not a revenue problem. Pensions, corrections and schools are the areas where spending increases have been the greatest – and the citizens are not getting value for money in any of these areas. State Employee unions are driving it – basically holding the politicians hostage by threatening to block-vote them out of office unless they play along. Welcome to clientelismo third world government.

[jonnycsd]

This makes sense to me. Figure the revenue is driven by change in ownership triggering a higher tax basis – and there is also some new property too. The retired couple sells the SFR to move into a condo or assisted living place, and that may double or triple the tax basis on that property. And even though sales are off from the peak, they are still pretty decent in both valuation and volume from a long term perspective. Also, this revenue stream includes commercial as well as residential so gotta look at that too – new tanks at the gas station? A face lift at the strip mall? A new medical office building? All that figures into the equation. Plus all that stuff that hasn’t changed hands in decades still gets the 2% bump each year, right?

The big “ah ha!” for me is how this is another crystal clear data point demonstrating that we have a spending problem and not a revenue problem. Pensions, corrections and schools are the areas where spending increases have been the greatest – and the citizens are not getting value for money in any of these areas. State Employee unions are driving it – basically holding the politicians hostage by threatening to block-vote them out of office unless they play along. Welcome to clientelismo third world government.

[Author]

Posts