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All of those new buildings and people will result in a far higher property tax revenue base since they are new units not starting from a 1980s prop 13 tax base.
by mahyarm 10y ago
All of those new buildings and people will result in a far higher property tax revenue base since they are new units not starting from a 1980s prop 13 tax base. From that you can build new schools, hire more teachers and police and develop more transit.
- palakchokshi 10y agoBut that revenue will have to be saved for a few years before there's enough to build new schools with, hire teachers with, etc. Moreover there might be other budgetary needs that might want that money unless the money is tied to improving schools, streets, etc.
- mahyarm 10y agoThat is a mismanagement problem there. Why would new permanent income flows not get allocated to support the new flows? Municipal bonds backed by future property tax flows in the one of the wealthiest cities in the USA is pretty secure, so you wouldn't have to save for a few years.
- drwl 10y agoEven if you diagnose the problem it doesn't help with the symptoms. Infrastructure (i.e. transit, public institutions, etc) will not be able to support it in the short-term.