Re:The Abundance of Silicon Valley
by dragonwriter on Friday October 16, 2020 @10:32PM
(#24807022)
> But, the big difference in California is that if you inherited property or bought it a long time ago you pay much less property taxes than people who bought homes recently, due to Proposition 13. This means property taxes are not as strong a source of revenue in California compared to other states;
Well, the assessment rule is part of it, but prop 13 also limits the property tax rate as well as the assessments. Even with full-value assessment, California property taxes would be in the bottom half of states due to Prop 13 rate limits alone.
Well, the assessment rule is part of it, but prop 13 also limits the property tax rate as well as the assessments. Even with full-value assessment, California property taxes would be in the bottom half of states due to Prop 13 rate limits alone.