clock menu more-arrow no yes

Filed under:

Tax This, California

San Franciscans— and the rest of California's taxpayers, for that matter— are about to have their coffers drained to the tune of as much as $1 billion according to legislation passed yesterday by a federal Judge in San Jose. Why? Because the state has, for a long, long time, seized so-called "abandoned" property a little too liberally under a craptastic system that has mismanaged the process. Interest is owed to those whose possessions were duly held, so here we are. Nice. [Chron]