Sunday, September 27, 2009

California's Prop 13 lead to needed property tax reform

You are half right, Rush - there was a real need for property tax reform that caused Prop 13 to be so popular.

Unfortunately, the cure was worse than the disease.

A better reform would have been two fold:

1. Split property tax rolls (and tax rates) between commercial and owner-occupied primary residences, with a huge primary exemption for the latter so no one would ever be taxed out of their home.

2. Make all property taxes progressive. Make the primary exemption level high enough that modest owner-occupied primary residences would pay NO property taxes, but that income property or exorbitant mansions would pay higher taxes on the PORTION of value in the higher brackets.

But of course Howard Jarvis was a multi millionaire COMMERCIAL PROPERTY OWNER.

Prop 13 was sold as, but not really written for, property tax relief for small family homes.

Again, the big lie, the rich elite MANIPULATIVE MISINFORMATION fooling the gullible victims of STUPIDITY as they vote to give the million dollar prize to the guy who is already a millionaire.

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