Posted on 02/20/2007 7:13:00 AM PST by doc30
Although I do not agree on MANY Calif. laws and practices ( I lived there for a time, not from there ) I do agree with their real estate tax structure; A flat 1% tax of appraised value for all homeowners, new AND existing. Why are the politicians in Tallahassee confusing an already complicated existing tax law? Amazing...
In principle I agree with you. In practice, it would be very dangerous. When the real estate market spikes upwards, many people could not afford the new appraised values. In FL, I don't have the homestead excemption yet because my green card is still in process. That means I get hit with the full appraised value every year. My tax bill goes up exponentially with the rising market. The 'fixed income' seniors will take it out at the ballot box anyone that permits such huge property tax increases every year.
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