Percentage wise our property taxes maybe low but when the average price of a starter home in Burbank, CA is still $550K the actual amount is quite staggering. I know a lot of people in Cali who make $15-$25 an hour working in our car world as fabricators or technicians. They are excluded from the american dream of home ownership. Hiking the property taxes would only make it worse as it also hurts those who rent.
The disparity between employment in the lip service professions and those who actually work for a living is eye opening in our state. This is solely caused by the cheap labor that can be gotten on every street corner.
A fake social security number from a street vendor on Alvarado Street, a faint knowledge of cars and whoop de doo you are Mr. Goodwrench. Disgruntled the old Mr. Goodwrench quits and moves to Oregon.....
I have seen so many skilled people leave so.cal. I often wonder who is left.
Prop 13 is one of the many reasons why housing prices in CA skyrocketed. Imagine
some fancy ARM loan on a $500K house. Total payments, including property tax, are,
let's say $1800/month, of which approximately $416.67 are the monthly taxes. Now,
imagine if Prop 13 were not around, and the tax rate was 3%, still below US average.
That monthly tax burden leaps to $1250, making that monthly payment rise by over
$800 to $2633.33/month. That monthly isn't so attractive anymore.
Ian