Another example of a bad move by our local elected officials. The Santa Clara County Supervisors are now considering the prospect of eliminating the effects of Prop 90 here in our county. People who are 55+ will be dramatically affected by this move, making the prospect of downsizing or any type of move to our County prohibitively costly for many who may be facing fixed income situations.
The argument is, of course, the County is losing money in the form of property taxes. However, they fail to take into account that other taxes will take place of this lost revenue stream. These people who move here, may be paying less (not zero) property taxes, but they still have to pay sales and other local taxes don’t they? They buy food, clothes, cars, gasoline, etc….. Picking on the 55+ demographics will probably be a very unfavorable move on the part of the Supervisors.
www.stevemun.com
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