Monthly Archives: June 2004

Property Tax Assessments Going Down? – Silicon Valley

Posted on by

Kelly Zito writes that:

The Santa Clara County assessor has slashed the values of about 1, 200 office and industrial buildings by about $8 billion, further underscoring Silicon Valley’s protracted high-tech slump.
County officials boosted assessed values of about 9,500 homes and condos that had been cut last year, but more than 23,000 residential properties continued to receive reductions totaling about $1.7 billion, they said Thursday.

Madison’s property values have risen for years. Someday, there will be an adjustment, which will be painful for its tax base.

Wisconsin School Finance Reform Proposal

Posted on by

The Governor’s Task Force on Educational Excellence is evidently poised to suggest that the state fund schools by:

  • Increase the state sales tax to 6% (from 5%) and reduce property taxes by 20% (I’ll believe that when I see it)
  • Eliminate the QEO (Qualified Economic Offer)
  • Increase Class size reduction funding to $2,500 per child
  • Reimburse school districts at a higher rate for educating high-cost special education students.

Amy Hetzner summarizes the proposal.
I think that school funding should include:

  • Sales tax reform (newspapers, advertising – are currently not taxed)
  • Increase in annual vehicle fees, reflecting the cost of a auto and the fuel efficiency
  • Increased Federal Funding via reform of the Social Security tax so that all wage income is taxed, not just the first $87,600.