Why California is broke, and Texas is not
invite response
2012 Oct 10, 3:30pm 25,556 views 63 comments
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Automan Empire
2012 Nov 17, 5:57am
Miraculous Weather and Tits Geography
^^^^^^^^^^^^^^
LOL, yeah that keeps me going too...
Wanna count the number of names on the Declaration of Independence...
Only you would be silly enough to compare the Declaration of Independence signed by all the major leaders of the time to the white house website petition page.
Miraculous Weather and Tits Geography
^^^^^^^^^^^^^^
LOL, yeah that keeps me going too...
Me three! Chicks and weather are unbeatable.
REpro
2012 Nov 18, 5:27am
Why California is broke, and Texas is not
Prop 13, 1978
How many places in CA have 1% straight tax today? Maybe bare land.
Bellingham Bill
2012 Nov 18, 11:19am
Prop 13, 1978
This is actually a good point. Texas actually has a pretty aggressive property tax regime. Plus they didn't allow their economy to go flim-flam in the 2000s, by limiting people to 80% LTV ratios on refis etc (they learned from the S&L/oil patch crisis of the 1980s).
Bellingham Bill
2012 Nov 18, 11:29am
How many places in CA have 1% straight tax today?
? It's not the rate it's the assessor valuation, which is limited to 2% per-year increase.
Thanks to Prop 13, the apartment I lived in in 1990 is now paying pretty much the same property tax it was then, even though rents have more than doubled (nearly tripled).
Land $1,302,912
Improvements $2,434,406
80 units so the assessor is valuing each unit at $46,000. Actual market value is around $300,000.
The assessed property tax per unit is $30/mo. Rents are $1700-2700.
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http://economy.money.cnn.com/2012/10/10/california-texas-richard-fisher/?iid=HP_River