Posted by Jon Coupal at 11:42 pm on Jan 19, 2015 Comments Off on WHAT CALIFORNIA HOMEOWNERS SHOULD KNOW ABOUT THE STATE BUDGET
Let’s be honest. When politicians and pundits discuss the state
budget, very little is about the impact on homeowners.
Notwithstanding the fact that a person’s home is their most
important asset, this lack of perspective is understandable. When
people think about political issues impacting their status as
homeowners, they are far more likely to focus on local taxation –
fees for utilities, parcel taxes, local bond debt, etc.
But state finances in California can – and do – have a profound
impact on one’s status as a homeowner and, unfortunately, it is
rarely in a good way. First, homeowners should be aware that there
is no bright line between local governments and the state. State
laws on school finance, redevelopment, law enforcement, natural
resources and transportation have a huge impact the budgets of
cities, counties and special districts.
Take schools, for example. Because of California Supreme Court
rulings in the 1970’s, local school districts have lost a great
deal of local control over their budgets. (Contrary to urban
legend, loss of local control had very little to do with Prop 13).
Much of K-12 funding now comes from the state. And the… Read More