More complicated. CA city share of county/state property tax frozen in time in 1970s after Prop. 13: http://www.lao.ca.gov/LAOEconTax/Article/Detail/166 …https://twitter.com/hanlonbt/status/789175282523439105 …
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that's because 10X+ the tax burden is placed on new homebuyers
True, but then the new home buyers benefit from the leveraged investment. To date, that's been huge
for people who got in earlier. What happens for today's middle-class? Today's service workers?
They can obviously afford it, since they had the scratch to buy the home to begin with
It's reversed. New homeowners/prop sales increase tax revenue.Cities/counties/CA spend it
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