State of California = Broke

[crescent&pearls]

In California, property taxes are determined based on Proposition 13. Your property tax is based on 1% of the assessed value of your home at the time you purchased it. So yes, people who bought homes as the prices skyrocketed pay A LOT in property taxes, but if you have owned a home for a very long time your property taxes are relatively low compared to the market value of your home, even today.

State income taxes in California are high. Business taxes are high. Sales taxes are high. The state is in a budget crisis because the state is on the hook for a massive load of retirement and other benefits due to state employees...and the legislators can't control their spending! What we are headed for is some kind of tax law revision to amend Prop 13.

I know I won't be voting for any incumbent state assembly person or state senator in ANY upcoming elections.