Original post made
on Jan 28, 2013
This story contains 44 words.
If you are a paid subscriber, check to make sure you have
Otherwise our system cannot recognize you as having full free access to our site.
If you are a paid print subscriber and haven't yet set up an online account,
to get your online account activated.
Prop 13 = a transfer of wealth from young people and families into the pockets of long-term property holders. I'll tell you what--when you seniors get politically active to undo the fiscal mess YOU created with Prop 13, I will support funding a higher level of service for seniors.
Um...pretty ignorant rant.
I was in junior high school at the time of the vote. Senior citizens were getting taxed out of their homes because of out of control state revenue collection. Property taxes were getting to the point that people paid more in taxes than they did to their mortgages on an annual basis.
When you get older, you will benefit from the same paradigm as what is in place today. The senior citizens of today paid the higher taxes 30 years ago while the senior citizens back then could rely upon a more reasonable annual property tax increase. What goes around, comes around.
Transfer of wealth into the pockets of long-term property holders? Nice try.
Property taxes go approximately: 45% schools; 22% county; 18% city; remainder to "special districts". Exactly how does that money go back into the pockets of our senior citizens?
If you want to vent on a Prop. 13 issue, look at how commercial real estate is taxed. That's where the problem lies.