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04-04-2020, 07:19 PM | #16606 |
MVP
Join Date: Oct 2017
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Posts: 7,381
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04-04-2020, 07:26 PM | #16607 |
Supporter
Join Date: Sep 2000
Location: Hollywood, CA
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Prop 13 basically says the county can't raise property taxes equivalent to their value today.
So for example, someone who purchased their home in 1993 for $150,000 pays property taxes based on that purchase price plus modest and incremental increases in assessed value each year. In this case, the homeowner paid approximately $1,800 per year in property tax and 27 years later, are likely paying somewhere around $3,000 a year or less today. Without Prop 13, the property tax on such homes would be closer to $11k per year on the low end and more than $20k on the high end, something those people most likely cannot afford. The result would be catastrophic, with tens of thousands, if not millions, unable to afford their property tax and in the process, either lose or be forced to sell their homes, something no one wants to see happen. |
Posts: 88,960
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04-04-2020, 07:29 PM | #16608 |
In Search of a Life
Join Date: Jul 2009
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So thats good. |
Posts: 82,630
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04-04-2020, 07:34 PM | #16609 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Posts: 80,040
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04-04-2020, 07:39 PM | #16610 | |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Quote:
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Posts: 80,040
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04-04-2020, 07:42 PM | #16611 |
Supporter
Join Date: Sep 2000
Location: Hollywood, CA
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Posts: 88,960
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04-04-2020, 07:45 PM | #16612 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
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Posts: 35,380
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04-04-2020, 07:45 PM | #16613 |
Life is changing..
Join Date: Jul 2012
Location: NW Missouri
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Been waiting for this thing to update all day
https://covid19.healthdata.org/projections Still no update.. |
Posts: 40,932
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04-04-2020, 07:56 PM | #16614 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
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I bought a new construction built on a vacant lot. This years property tax is on the vacant lot yet the lender assessed 2% of the home’s purchase price for escrow. That’s a substantial swing, so yeah, I’d rather manage my own finances.
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Posts: 35,380
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04-04-2020, 08:09 PM | #16615 |
Best Body On ChiefsPlanet
Join Date: Jan 2014
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Posts: 6,115
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04-04-2020, 08:10 PM | #16616 | |
Admitted Planet Junky
Join Date: Oct 2000
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Posts: 19,411
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04-04-2020, 08:16 PM | #16617 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Posts: 80,040
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04-04-2020, 08:19 PM | #16618 | |
www.nfl-forecast.com
Join Date: Sep 2000
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Posts: 45,704
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04-04-2020, 08:27 PM | #16619 |
Life is changing..
Join Date: Jul 2012
Location: NW Missouri
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Posts: 40,932
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04-04-2020, 08:42 PM | #16620 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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This is how the richest people in the world should be spending their money these days.
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Posts: 80,040
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