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Governments do, indeed, spend significantly more than they used to. The problem in the Bay Area is simply that taxable value assessed only at sale.
by solidsnack9000 6y ago
Governments do, indeed, spend significantly more than they used to.
The problem in the Bay Area is simply that taxable value assessed only at sale.
- dragonwriter 6y ago> The problem in the Bay Area is simply that tax is not reassessed regularly. No, tax-basis value is assessed annually. However, increases in assessed value are limited to a maximum of 2% per year outside of certain events qualifying for full-value assessment of the property or particular improvements. (And this is statewide, not Bay Area specific).
- fortran77 6y agoThat's not true. Every year it can be raised 2%.
- solidsnack9000 6y agoAh, okay -- that I did not know. The effect of the policy over the past decades has still been to allow the value to dramatically increase relative to the taxation.
- fortran77 6y ago> The effect of the policy over the past decades has still been to allow the value to dramatically increase relative to the taxation. No. The problem is they're not building enough housing. Not that taxes aren't high enough.
- solidsnack9000 6y agoNo, that's not right. Poor tax policy leads to poor land use.