Unfortunately I agree and you know what’s coming a state tax!
Capital gains will happen first. Property taxes on residential housing are gonna jump, too, because the value of commercial property is plummeting thanks to this shit. Have heard that directly from the mouths of Assessors.
Need to tax those homes. Teachers need to get paid for the great job they are doing.
Unfortunately I agree and you know what’s coming a state tax!
Capital gains will happen first. Property taxes on residential housing are gonna jump, too, because the value of commercial property is plummeting thanks to this shit. Have heard that directly from the mouths of Assessors.
Need to tax those homes. Teachers need to get paid for the great job they are doing.
I'm sure I'm not teaching anything new to anyone here, but the property taxes to collect are a fixed amount. Your taxes go up or down based on the value of your property relative to the total value of all property eligible to be taxed. This is why your taxes can go up 20% in one year, even if your home value increases by far less than that. If commercial values are re-assessed at lower amounts, while residential values stay flat or increase, residential now makes up a larger share of the total value and thus its share of the tax burden to fund those fixed costs increases.
The best thing California ever did was the Prop to not raise the property tax once you buy the house. If you bought it for 200K in 1979 that's what you get taxed on. When you sell it for 2 million that's the rate for the new owner and there is cap gains
O course the left has tried to get rid of it ever since
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O course the left has tried to get rid of it ever since