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Property values are usually not affect by recessions, 2008 being the exception, and thus income from property taxes is not affected as much. Income is more affe
by frankbreetz 4y ago
Property values are usually not affect by recessions, 2008 being the exception, and thus income from property taxes is not affected as much. Income is more affected by recession.
If prop13 is repealed California could raise larger percent of its budget from property taxes as opposed to income taxes, and it would help with variations of tax income.
- pishpash 4y agoThat's an illusion. It is not as liquid and there is no mark-to-market but prices absolutely do fall during a recession if real estate were to trade.
- frankbreetz 4y agoThe comment was about tax ebing raised by the state, illusion or not it affects taxes the same
- pishpash 4y agoSo you're saying it's like medieval lords, extract the same tax regardless of economic circumstance. That can be done without the roundabout via real estate.