50 ways to ruin education.
Quote:
Originally Posted by Snake Doctor
It totally sucks to be sure....but you're just feeling the effects of the housing bubble popping.
Schools are funded mostly through property taxes. Property values have plummeted, and so have tax receipts. Add to that the number of vacant homes on which no taxes are being collected and it gets even worse. More so in California than almost anywhere else.
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Which is actually funny to me.
I received a letter last week telling my my property value went up, according to the city's assessment, and my taxes would be for 2009 as well. Sure it was only $1500.00 an increase (under $2000 anyway), but that's not the point. If my house is losing value in this economy. That means tax receipts should be going down as well. Not up.
Government. Pure comedy.