News for hackers. Stuff that matters.

A comment on California is the only state to hide its spending – nearly $300B a year. Parent comment

Re:California is the only state to hide its spending – nearl... by gopher_space on Sunday December 12, 2021 @01:15PM (#29532023)
This is exactly the scenario prop 13 was designed to create.
[ Parent | on HN ]
Re:California is the only state to hide its spending – nearl... by thethimble on Sunday December 12, 2021 @03:49PM (#29533471)
> decline in property tax revenue

Wait property tax is a percentage of assessed value - not a fixed amount. Property tax revenue has increased pretty reliably since 1978.

https://dailybruin.com/2017/01/11/ucsa-campaign-aims-to-refo...

[ Parent | on HN ]
Re:California is the only state to hide its spending – nearl... by Drunk_Engineer on Sunday December 12, 2021 @08:44PM (#29535630)
Unless the property is sold, Prop 13 caps the increase at no more than 2% annually. So if you have owned a home for more than 10 years, the tax basis is probably way lower than market value -- particularly in a place like Marin County.
[ Parent | on HN ]
Re:California is the only state to hide its spending – nearl... by closeparen on Sunday December 12, 2021 @08:10PM (#29535469)
The cost of provisioning public services depends on the cost of paying workers to live here, which has done a lot more than "increased pretty reliably."
[ Parent | on HN ]