KRON4, Phil Ting talking about Closing the Prop 13 Loophole

[ourearthhome]

The rest of the country laughs at California for its inept treatment of the property tax which if properly administered is the best source of revenue and least destructive of taxes because a very large percentage of it falls on community created land value which when taxed to not penalize anyone for anything they do with the exception of land speculators. The whole purpose of Prop 13 in the first place was to encourage land speculation, i.e real estate speculation and it worked well.