Economists Say California Property-Tax Changes Could Outraise Prop. 40 Over Time
Photo: TokenPost
Economists Owen Zidar and Eric Zwick argue that changing California’s property-tax system could generate more revenue over time than Proposition 40’s proposed one-time tax on certain taxpayers with wealth above $1 billion. Voters will decide on the measure Nov. 3. Their hypothetical compares a 0.8% property-tax rate in California with a 2% rate in Texas. They argue that applying the higher rate would more than double California’s residential property-tax revenue. They do not specify a dollar amount or time frame for that increase.
Source: TokenPost
