Prop 13 Is for Lovers?of Property Taxes! | Fincance Articles ...
Last week?s ?OC Watchdog? piece by Teri Sforza in the OC Register , suggesting it is time Californians withdraw their opposition to higher property taxes, by focusing on the familiar scenario of the new homeowner paying scads more in property taxes than his long-time homeowner neighbor.? For those unfamiliar with this watershed issue of California tax and public finance policy, is the wildly popular constitutional amendment passed in 1978 by a margin of nearly two-to-one, cutting rates on all property taxes to a maximum of 1% of 1975 property values.? Cal. Const. art. XIII A, ?? 1-2.? Prop 13 allows assessments to rise by no more than 2% per year, and revaluation may occur only when property is sold.? after its passage, Prop 13 cut statewide property tax revenues by a staggering 57%.? it is commonly blamed by politicians and the media as one of the chief causes of the decline in the funding and, more debatably, the quality, of California?s sub-par school system.
Click link below to read full and original article
Prop 13 Is for Lovers?of Property Taxes!
Source: http://www.finance4noobs.com/prop-13-is-for-loversof-property-taxes/
example mitt romney graphing calculator nfl odds indeed indeed pink