ANY dumbell can be....
Post Fiend
Joined: Apr 2002
Posts: 7,157
Likes: 1
From: Central Kali
Maybe Arnold is only the first step. If we can throw out the rest of the socialists, there may be hope left for the state. If not, I will be leaving one day. Property taxes are not frozen. They can go up by around 1.5% per year.
Postmaster
Joined: Aug 2001
Posts: 2,882
Likes: 0
From: Nevada
I believe Proposition 13(?) froze them in 1978. If the property is/was resold, the exemption doesn't apply. Most of the big buck places and a lot of people in up-scale residences don't move around.
"Buffett cited the inequity of property taxes he pays on his homes in Omaha, Neb., and Laguna Beach, Calif., and said the California cap on property taxes imposed by Prop. 13 "makes no sense."
His $500,000 house in Omaha has a tax bill of $14,401. His $4 million house in Laguna Beach has a tax bill of $2,264. The taxes on his Omaha home increased $1,920 this year, compared with $23 on the Laguna Beach home, he said."
That'd make people in the Republic of Kalifornia scream like stuck pigs. But they'd better do something on that scale or bond issue debt service will strangle them.
"Buffett cited the inequity of property taxes he pays on his homes in Omaha, Neb., and Laguna Beach, Calif., and said the California cap on property taxes imposed by Prop. 13 "makes no sense."
His $500,000 house in Omaha has a tax bill of $14,401. His $4 million house in Laguna Beach has a tax bill of $2,264. The taxes on his Omaha home increased $1,920 this year, compared with $23 on the Laguna Beach home, he said."
That'd make people in the Republic of Kalifornia scream like stuck pigs. But they'd better do something on that scale or bond issue debt service will strangle them.
Elder User
Joined: Nov 2002
Posts: 899
Likes: 0
From: 5600 feet high
If Arnold manages to fix California, he is going to be a celebrated political figure for a generation, and will probably end up in Congress (is he eligible?...).
Talk about the greatest political opportunity ever: if this guy changes things for the better, it wont just be the Californians who will benefit. When you have as large an economy as California does, it influences the entire country, especially the western half.
But boy, if he fails, watch out. He'll never make another red cent as an actor.
But hey, you only live once...
BDV
Talk about the greatest political opportunity ever: if this guy changes things for the better, it wont just be the Californians who will benefit. When you have as large an economy as California does, it influences the entire country, especially the western half.
But boy, if he fails, watch out. He'll never make another red cent as an actor.
But hey, you only live once...
BDV
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