JasonH
Full Access Members
But wait until you see your property tax bill. It more than makes up for other savings!!
I lived in California for seven years. Higher TX property tax is more than offset by the lower cost of housing. Many people don't realize it, but part of the reason the California is screwed up is because proposition 13 capped property tax at 1%. To make up the shortfall the state started raising revenue through other methods, such as income tax, sales tax, and fees. Everytime there's a recession, revenue drops and a hole gets blown in the state budget. That combined with NIMBYism, zoning, and other restrictive development rules have prevented developers from keeping pace with housing demand. Most of SoCal is zoned single family residential even though the population has grown orders of magnitude larger as compared to when the zoning rules were implemented.