![]() Since that report is a decade old it is likely that that figure has doubled. In 2014, the California Taxpayers Foundation compiled data on the prevalence of parcel taxes revealing about $2 billion statewide. In many jurisdictions, the “below the line” taxes and fees exceed the ad valorem levy. Parcel taxes and a myriad of bond levies appear on virtually every property tax bill issued in California. Don’t believe us? Just look at your property tax bill. But California imposes many more taxes and levies that appear on the property tax bill beyond the ad valorem tax. Those comparisons only measure the traditional ad valorem (based on value) property tax which, as mentioned above, is limited to one percent in California. Supervisors Doug Chaffee and Don Wagner toss common sense out the window, block transparency proposalĪnother major consideration in determining if California is a high or low property tax state is something missed by all the traditional comparisons. This often involves greater devolution of authority to local governments, which are responsible for more government services than they are in states with greater reliance on state-level revenues like income or sales taxes.” No sane Texan would trade that state’s total tax structure for California’s. The Tax Foundation explains this: “Some states with high property taxes, like New Hampshire and Texas, rely heavily on them in lieu of other major tax categories. More importantly, because housing is far more expensive in California, two identical houses, one in Houston and one in the Bay Area, could have wildly different property tax bills rendering meaningless the “effective” tax rate measurement. (Texas has a top income tax rate of zero while California’s is the highest in the nation at 13.3%). The answer is simple: If property taxes were all that California collected, Texans would be moving here, not the other way around. Taken in isolation, one would have to wonder why so many Californians are moving to Texas. Contrast this with Texas where the “effective” property tax rate is 1.68%, almost double that of California. (The longer one stays in a house, the more likely that the market value will exceed the assessed value). California’s “effective” property tax rate is less than one percent (.75%) because of Prop 13’s 2% limit on annual increases.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |