[WildHighlander57]

L.A.Justice wrote:

“Financially, better than that. There was like $10bil in the rainy day fund. Years of surplus, banked.

While I know it’s cool to hate CA, I think a lot of it is jealousy.
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I think State of CA will have a budget problem very soon... Other states will have the same problem as well...Because of this shutdown, less tax is being collected.

I am sure that Governor will propose raising taxes...How about Proposition 13? Governor is not a fan of Prop 13...He will argue that Prop 13 should be abolished because of coronavirus crisis.”

If prop 13 is done away with, the tax on a house that had its value pegged at (for example) 1985 levels would triple.

250k in 1985 —> 850k in 2019

tax is 2500 with prop 13

250k in 1985 —> 850k in 2019

tax is 8500 without prop 13

What has the shutdown done to property values?

[L.A.Justice]

What has the shutdown done to property values?
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We will soon find out...

In any case, Dems would love to get rid of Prop 13 and have people pay more property taxes...

[Svartalfiar]

What has the shutdown done to property values?

Not much, and you bet the local appraisal guy isn't gonna lower your valuation. Even if it does affect them, it'll take quite a while before loss of value is reflected in home sale prices.

That said, I need to argue my valuation. My county just sent me the 2020 appraisal, and they're trying to lower my house value by $15M, but raise my land value from $60M to $90M. So I have a $15,000 increase overall, (so maybe an extra couple hundreds in tax charges) despite my value 'going down'.

This is Texas, by the way. Rockwall County, just east of Dallas.