CA: Tax panel promises to think 'boldly' (Parsky et al)
" Next Up Taxachusetts Will Try To Dump Proposition Two And A Half !"
"The First Thing They Recommend Is To Remove Tax Cap Laws .Who Would Have guessed ?"
"Hello Sacramento Can You Hear Us ?"Cut The Size Of California State Government By at Least Fifty Percent,Where's Ronny When We Need Him The Most ?"
DAVIS — The commission charged with recommending an overhaul of California’s tax system cautiously placed a toe on the third rail of state politics on Thursday, opening discussion of possible changes in property taxes and Proposition 13. “This commission does not just want to discuss easy issues. We’re going to discuss the property tax,” said Gerald Parsky, chairman of the Commission on the 21st Century Economy. The panel, created by Gov. Arnold Schwarzenegger and legislative leaders, has been asked to recommend changes in state tax policy in order to stabilize government revenues and align the tax system in an economy...snip
The leadership in Sacramento is looking to this commission to think boldly,” Parsky said. “We can nibble around the edges, or we can step back and be bold.”
Echoed Commissioner Christopher Edley Jr.: “We owe it to the people of California to try to be bold. It would be far better to be ambitious and fall short than to be timid.
" Translation:The people of California want us to screw them by at least doubling the Private Property tax rate !"
In meetings thus far, the commission has discussed such ideas as lowering capital gains taxes and top marginal income rates as a means to reduce the volatility of state revenues;
"Translation:If we don't lower corporate taxes we will be without our Corporate tax base when they all leave the state !"
expanding the sales tax to include certain services while lowering the sales tax rate; and even adopting a flat income tax rate that would apply across all income brackets while eliminating most deductions and credits.
Until Thursday, however, the property tax has been off limits.
There has been no significant change in property taxes in the state since the passage of Proposition 13 in 1978. It set the rate at 1 percent of the purchase price per year, allowing the amount to rise by 2 percent per year. Only when a property changes hands is the value of the property readjusted to reflect the new current market value.
As a result, property taxes in California are among the lowest in the nation. A study by the National Conference of State Legislatures ranks the state 38th in the nation in property taxes paid per $100 in personal income, and an analysis by USA Today ranked California 45th in property taxes as a percent of market value.
Discussion Thursday focused on what is known as a “split roll” property tax — a system that treats commercial and industrial property differently from residential property.
"Translation:They wan't to tax Homeowners at the Coperate Tax rate !"
"This should Lead to a Vast increase in migratory Patterns of Former California residents To The Sun Belt !"