For California properties the cpi adjustment only went negative twice in 60+ years.
What do you mean?
> For California properties the cpi adjustment only went negative twice in 60+ years.
What do you mean?
Because of limitations imposed by Prop 13, the most your evaluation can go up by is 2%, tied to the consumer price index. If the index goes up less than 2%, than that is the change.
But I the negative part was an error, sorry. Only two times in 60 years did the expected tax receipts go negative. I think it went negative in 2009, like -1.6% for Los Angeles. It doesn't sound like much, but that something like -$30 million for one year and growth is always expected.
Because of limitations imposed by Prop 13, the most your evaluation can go up by is 2%, tied to the consumer price index. If the index goes up less than 2%, than that is the change.
But I the negative part was an error, sorry. Only two times in 60 years did the expected tax receipts go negative. I think it went negative in 2009, like -1.6% for Los Angeles. It doesn't sound like much, but that something like -$30 million for one year and growth is always expected.
(post is archived)