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The problem in California is the grandfathering in of rates, rather than the fact that the tax exists. If property tax was completely removed and the state made
by flavor8 10y ago
The problem in California is the grandfathering in of rates, rather than the fact that the tax exists. If property tax was completely removed and the state made up the shortfall in some other tax (hopefully progressive) then there'd be no market distortion.
- mahyarm 10y agoYeah it's not the rate, it's the %2 increase rate. Takes 35 years for the tax to double in cost. Seattle's King County has a lower property tax rate than a chunk of the bay area for example.