[rdl]

I assume property tax revenues in CA are high mainly due to the high value of CA real estate, not that the rates themselves are high -- they're not high rates (compared to the East Coast, maybe 25-50%) and due to Prop 13, they're not at market rate on many properties.

CA tax is highly variable year to year -- 10.3% on capital gains (and other income) of rich people, largely happens based on business cycle factors. Same with corporate tax.

[Retric]

What's really odd about property taxes in CA is they only go up a fixed amount per year which has not kept up with growing property values in many areas. So, even though property values have dropped significantly revenue has not dropped as much as other states.