Time to remind everyone again that @UofCalifornia had no tuition until voters passed Prop. 13 and cut property taxes. (Yes, a previous generation chose to indebt you so they could have overvalued houses.) https://twitter.com/kimmaicutler/status/1070204442966818817?s=21 … https://twitter.com/annehelen/status/1094259607780831232 …
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Overall including income? Or just property tax. If we had a different rate structure, that would also be reflected in lower property values and more public capture of unearned land increment for schools and infrastructure.
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It’s fair to say that property tax rates are low in California compared to other states. The bigger mystery is that CA tax revenue is high, in $ and as a % of GSP. We may not like the mix, but revenue seems unlikely to be the root cause for our decisions on higher ed spending.
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@joemmathews and@mugwump2 probably have thoughts on this. Part of it is we just have a much more complex, dense economy that has to be paralleled by a more complex govt. You know, we’re not a minimalist rancher state. But also, we can’t retroactively renegotiate our obligations.
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There’s a relationship between property taxes and property values like how there’s a relationship between interest rates and property values. https://escholarship.org/uc/item/80t0102p …
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