|
|
|
Completed Precincts:
28 of 28
|
|
Vote Count
|
Percentage
| |
|
YES
|
5,453
|
69.2%
|
|
NO
|
2,424
|
30.8%
|
Last count post will be 4:30 p.m. Thursday, November 17
Submitted by Mark Stechbart
20 comments:
By my calculations, Measure L passed by 201 votes, 200 more than Measure N. Of course, in a sane world without the 2/3 majority requirement, it would have passed by a whopping 3,938 votes!
In a sane world, there would be no need for a tax increase paid only by homeowners to bail out the schools. How many yes votes were cast by renters I wonder? I believe that only homeowners should be allowed to vote for a property tax increase.
Well, with the economy as it is , and the foreclosure rate rising, the banks will own most property. Do banks vote?
They don't need to. They're rumored to also own quite a few legislators, state and federal.
The banks don't pay property taxes on foreclosed homes either.
Between foreclosures and falling property values is it any wonder CA is broke?
No wonder at all. If banks where responsible for the annual property taxes on foreclosed homes I'm sure that the banks would restructure the majority of loans in foreclosure.
Todd, the banks do pay the annual property tax and add it to the amount you owe.
To modify a loan the borrower or homeowner has to qualify for the modidication. Being most of these loans where stated income or no income qualifying necessary, they do not qualify for a loan modification.
Anon, If that was the case, that banks pay taxes for properties they have foreclosed on, California would not be experiencing the dramatic fall in revenues. While my property value along with everyone else's has fallen steeply over the last few years it isn't reflected in our annual property tax bill because the county wisely does not base values on market trends so the drop in property values isn't as influential to the state and city budget as foreclosed properties held by banks that are not compelled to pay standard property taxes like the rest of us.
Todd, you are wrong on this. If your home value is less than what your property tax value is, you can file for a reduction. When your property taxes are based on what you paid for your home, not its current market value.
And yes, when a bank forecloses on a home or other property, it is responsible to pay the property taxes for that home. However, they file for the reduced value and therefore, aren't paying the property tax on the overstated value.
It's a complicated question as to who assumes the liability for payment of property taxes in the event of a foreclosure, but the end result is still the same: the county will eventually collect those taxes.
Anon, I stand corrected... just got the 411 from our county tax office.
Bow down Todd, Bow down
Better loan documentation, honest appraisals, much tougher qualifying for all. Live and learn.
Anon or anyone, how is the "reduced value" on a foreclosed property determined?
Nov 17 came and went. What is the latest ballot count?
YES 5,652 votes 69.32%
NO 2,502 votes 30.68%
Measure L should have had to stand on its own merrits, not on those of a bond measure established many years ago. Now, after millions of dollars were collected and have been spent, even more millions will be squandered. Its no wonder that so many home owners have been foreclosed on with frivolous accounting and irrespnsible attitudes like those who voted for Measure L.
anon@355, Your dots don't connect. There are countless reasons for people losing their homes in foreclosure. Beneath the anger you must know that. Educating all of our people is our responsibility as a nation. Personally, I'm beyond furious over the sewer rip-off and the garbage rip-off but I wasn't willing to transfer that anger to the schools and the kids so I voted for L. Does the district make mistakes? Sure. Do I agree with all their decisions? No. But you either believe in public education and its value to this country or you don't. I'm a believer.
anon@355, spend some time in our public schools and get educated about what is and isn't happening there these days. Our kids deserve better and tax payers deserve a better return on their investments.
Post a Comment