The unfathomable logic behind Property tax

by sambarvada Sat May 21, 2011 2:25 pm

The campaign appeared to lose its already shaky footing when Warren Buffett, whom Schwarzenegger had asked to join it as an economic adviser, spoke his mind in an interview with the Wall Street Journal. Buffett suggested that California’s property taxes needed to be higher, though he stopped short of calling for the reversal of Proposition 13. Buffett made his point succinctly: his house in Omaha, Nebraska, is valued at about five hundred thousand dollars, and his annual tax bill is $14,401; one of his homes in Laguna Beach, California, is valued at four million dollars, and his annual tax bill is $2,264.

Read more http://www.newyorker.com/archive/2004/06/28/040628fa_fact_bruck#ixzz1N0qNvhqS

by Kris Sat May 21, 2011 3:45 pm

[quote="sambarvada"]
The campaign appeared to lose its already shaky footing when Warren Buffett, whom Schwarzenegger had asked to join it as an economic adviser, spoke his mind in an interview with the Wall Street Journal. Buffett suggested that California’s property taxes needed to be higher, though he stopped short of calling for the reversal of Proposition 13. Buffett made his point succinctly: his house in Omaha, Nebraska, is valued at about five hundred thousand dollars, and his annual tax bill is $14,401; one of his homes in Laguna Beach, California, is valued at four million dollars, and his annual tax bill is $2,264.

>>>> How did he wangle that in Laguna Beach? This is not adding up.. Prop 13 of course was an overreach, but there are idiotic expenses galore in Calif. There is the speed rail project that comes to mind right away that the state is flirting with.

The unfathomable logic behind Property tax

The unfathomable logic behind Property tax

Re: The unfathomable logic behind Property tax