The state’s solution to close the budget shortfall will most likely be the ax to come down on the revenues going to the cities and counties. Since Prop 13 prohibits any increases in the base property tax rates without the super majority of the voters, a new variety of fees for services and penalties is being planned.
Most homeowners, when faced with less income, cut back on their spending. Some only do so after they have exhausted their savings and/or available credit. During the boom when property was rapidly turning over with expediential growth in housing prices and new assessment, these sub-divisions of the state apparently believed that the boom would be endless. Many cities and counties anticipated a 15% growth in revenues, even when the boom could easily be determined to be over.
The question begs to be asked. How could these cities and counties not see the housing down turn and state budget crisis on the horizon? I guess being a city planner doesn’t mean looking at the obvious.
See San Bernardino Sun
THE BLOG DEVOTED TO FAIR PROPERTY TAXES FOR HOMEOWNERS
Saturday, August 2, 2008
CITIES DREAD STATE’S CUTS WILL LOOK TO LOCAL TAXPAYERS TO MAKE UP DIFFERENCE---NEW LOCAL FEES (TAXES) ON THE WAY!!!
Labels:
assessments,
California,
cities,
counties,
Prop 13,
Property,
services,
Tax,
taxes
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