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Buffet is right about property taxes being too low à la Prop. 13. Prop. 13 also
favors longer term property owners vs. newer home buyers. Buffet pays 7x more
in prop taxes for his home in Nebraska than in Calif even though the CA home is
worth 8x more:
http://www.tax-news.com/asp/story/story.asp?storyname=13018
Prop 13 was never fair because newer home buyers paying $600,000 for a single
story home in Los Angeles, yes that's $600K, will be taxes for the full value of
the home. In Newport Beach, homes worth $2 Million are assessed for far less
because the owners have been there for years.
Daniel Martinez.
BobR wrote:
> Must be that Warren owns some California bonds or is going to buy some and
> like with private companies he is going to make sure the investment pays off
> by taking an active roll in the management.
>
> ----- Original Message -----
> From: "John Armstrong" <mrktwiz1@xxxxxxxxx>
> To: <omega-list@xxxxxxxxxx>
> Sent: Wednesday, August 13, 2003 12:09 PM
> Subject: Off Topic item regarding Calif recall and Arnold S.
>
> > Warren Buffet has just agreed to be Arnold
> > Schwarzenegger's Economic Advisor...developing....WOW!
> >
> > John Armstrong
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