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February 12, 2011 at 9:30 AM in reply to: California plans $2-billion program to help distressed homeowners #665357February 12, 2011 at 9:30 AM in reply to: California plans $2-billion program to help distressed homeowners #665958
pencilneck
ParticipantMy assumption is that the goal of the state is to maximize tax revenue.
Total California real estate is worth about $4.4 trillion*. A 1% drop in real estate tax revenue “costs” the state about $440 million annually. If this $2 billion “investment” can make a 1% difference it would pay for itself in about 5 years.
* I believe this is the taxable value of California property in 2010, not the fair market value. I might be mistaken. If it is the fair market value these figures won’t add up due to prop 13.
Or, more succinctly, ditto Rustico’s post.
February 12, 2011 at 9:30 AM in reply to: California plans $2-billion program to help distressed homeowners #666092ParticipantMy assumption is that the goal of the state is to maximize tax revenue.
Total California real estate is worth about $4.4 trillion*. A 1% drop in real estate tax revenue “costs” the state about $440 million annually. If this $2 billion “investment” can make a 1% difference it would pay for itself in about 5 years.
* I believe this is the taxable value of California property in 2010, not the fair market value. I might be mistaken. If it is the fair market value these figures won’t add up due to prop 13.
Or, more succinctly, ditto Rustico’s post.
February 12, 2011 at 9:30 AM in reply to: California plans $2-billion program to help distressed homeowners #666428ParticipantMy assumption is that the goal of the state is to maximize tax revenue.
Total California real estate is worth about $4.4 trillion*. A 1% drop in real estate tax revenue “costs” the state about $440 million annually. If this $2 billion “investment” can make a 1% difference it would pay for itself in about 5 years.
* I believe this is the taxable value of California property in 2010, not the fair market value. I might be mistaken. If it is the fair market value these figures won’t add up due to prop 13.
Or, more succinctly, ditto Rustico’s post.
ParticipantI’m not familiar with the cult of multiculturalism, but I’d like to know more about them. Do they have any local churches or mosques?
ParticipantI’m not familiar with the cult of multiculturalism, but I’d like to know more about them. Do they have any local churches or mosques?
ParticipantI’m not familiar with the cult of multiculturalism, but I’d like to know more about them. Do they have any local churches or mosques?
ParticipantI’m not familiar with the cult of multiculturalism, but I’d like to know more about them. Do they have any local churches or mosques?
ParticipantI’m not familiar with the cult of multiculturalism, but I’d like to know more about them. Do they have any local churches or mosques?
ParticipantBriansd1, nailed it. Good post.
ParticipantBriansd1, nailed it. Good post.
ParticipantBriansd1, nailed it. Good post.
ParticipantBriansd1, nailed it. Good post.
ParticipantBriansd1, nailed it. Good post.
ParticipantLa Posta brings back memories. Albeit distinctly hazy and fragmentary memories.
I don’t know much about real estate. The best time to buy a Chile Relleno Burrito is NEVER at 2:00 am.
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