One thing that’s booming with Prop 30 in place is Nevada real estate market. Yes, someone finally got the motivation to switch their zip code to Nevada, and paid $25.5 million for the privilege. This is great news for Schools & Local Safety Act supporters, as all those millionaires leaving will reduce the crime ratio (fewer people to rob) and increase good school accessibility, as they’ll take their rich kids with them and free up the spots in California’s over-burdened and under-unionized school system.
“A lot of factors have bubbled up to drive this,” she said, “including the passage of California’s Proposition 30 in November,” which raises personal income-tax rates for Californians making more than $250,000 a year and triggers a four-year hike in the state’s sales tax starting Jan. 1. Real estate agents say Silicon Valley’s current tech boom is also contributing to the trend, minting overnight millionaires with money to burn on tony Lake Tahoe addresses.