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View Diary: California's Succeeding Despite Antitax Hurdles (105 comments)

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  •  I have no doubt of the sincerity of your comment (2+ / 0-)
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    bnasley, lonespark

    but it overlooks how economic systems work.  The run up in  CA property is largely because of the low property taxes.  A higher property tax on land keeps the cost of land lower.  It is one of the great ironies that many small property owners think that they benefit from prop 13 because with super high property values an increase in taxes would look frightening.  But with higher property taxes (on land) the artificial high price of land would come way down.  The real winners from prop 13 are the big land owners.

    I live in TX, which has a high real property tax but note that we had almost no housing bubble and very little of the fallout like the states that have capped property taxes.  Our tax system has other huge inequities such as the large property tax give-aways to the ag, timber, and oil industries.  

    The Long War is not on Iraq, Afghanistan, or Iran. It is on the American people.

    by Geonomist on Sun Sep 09, 2012 at 10:38:12 AM PDT

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