Saturday, January 4, 2020

FYI: Information About Taxes

There are groups getting signatures to modify or change Prop 13, so I thought I would provide some relevant information. Essentially, Prop 13 governs how property assessments are established that determine the amount of property taxes that are paid by individual property owners. As a County Assessor, I want to share some facts to demonstrate why I strongly support Prop 13.
Obviously, revenues from property taxes are very important to county governments and the local schools but none of us should have to pay more in taxes because of an overspending state government with onerous local mandates.
Yearly, I gather state statistics concerning property taxes and there are three percentages and that are based on verifiable, specific numbers that demonstrate the strength of the revenue source from property taxes.
The percentages are for population, inflation and revenue from property taxes in the State of California from 1980 to 2018. From 1980 to 2018:
Population is up: 66.47%
Inflation is up: 201.23%
Property tax revenues are up: 787.63%.
This is a clear demonstration of how revenues from property taxes in California, under Prop 13, have far outpaced inflation and population. It also demonstrates that the state doesn't have a revenue problem, but rather has a spending problem.
There are many who will say that revenues are stifled because of Prop 13 and changes are needed, however, changes will adversely affect property owners, especially, the elderly, who tend to be on fixed incomes who rely on the stability and predictability of Prop 13.
Just a bit more information to consider when asked to sign the petition to change Prop 13.

Jim Rooney

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