David Brunori quoted in “The Week in Public Finance: Amid Rising Home Prices, 2 States Take Property Tax Proposals to Voters”Governing 09/28/18
Below is an excerpt:
While the measure is likely to be popular with homeowners, it could be devastating for local governments. According to research from the independent California Legislative Analyst’s Office, it could mean the loss of $150 million in total revenue for schools and local governments across the state in the first year alone. That figure is likely to increase over time to reach between $1 billion and a few billion dollars per year.
“It’s terrible tax policy,” says Quarles & Brady’s state and local tax law expert, David Brunori. “But it’s good politics because people 55 and over vote -- and it will likely win because of that.”