> the effective new property tax rate in Oakland or SF is something like %1.2-%1.5
Do you mean the tax rate on new properties? Or the effective rate actually collected, given the restrictions on how much property taxes can rise, etc? I thought one problem in California was that the latter figure, which is the more relevant one, was very low as a result of Prop 13.
The other problem in California is that it just seems to not spend money very well, as far as I can tell...
Yeah. The tax rate that is collected whenever you buy a property and 'reset' the prop 13 timer. %1 for the base rate, plus a bunch of other one off fixed charges that add up to the %0.2-%0.5 rate. People who have had prop 13 properties for decades have something like a %0.3 equivalent property tax rate.
Do you mean the tax rate on new properties? Or the effective rate actually collected, given the restrictions on how much property taxes can rise, etc? I thought one problem in California was that the latter figure, which is the more relevant one, was very low as a result of Prop 13.
The other problem in California is that it just seems to not spend money very well, as far as I can tell...