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Old 08-01-2018, 08:19 PM
 
18,172 posts, read 16,398,084 times
Reputation: 9328

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Glad I am selling a building I own for one of my businesses.
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Old 08-03-2018, 06:12 AM
 
Location: So Ca
26,731 posts, read 26,812,827 times
Reputation: 24795
Quote:
Originally Posted by ultrarunner View Post
a few comments...

All taxable property in california pays the exact same 1% statewide prop 13 rate... Doesn't matter when you bought.

For those that bought in 1968... The property tax could very well be indexed as far back to 1975...

Prop 13 does a few things... It established a base value based on fair market value at the time of transfer... Most often near the sales price...

Prop 13 limits inflation increases to a max of 2% annually

prop 13 requires voter approval for new assessments... 55% to build a new school and 2/3 for most others.

The parent/child exclusion from re-assessment is not prop 13... This came about long after prop 13 become law... There is even a grandparent/grandchild exclusion should the parent be deceased.

The exclusion is not automatic... It must be applied for with supporting documentation...

As far as huge appreciation factors... No need to go back decades...

I have posted before about an east oakland foreclosure in 2009 that sold for 80k... Last year it sold for over 600k

length of ownership is no where to be found in the text of prop 13.

Governor brown eloquently said prop 13 is settled law... Those that mess with it do so at their own peril and it is the third rail of politics... As in bart third rail which can finish you through electrocution...
Good points.
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Old 08-03-2018, 07:39 AM
 
Location: Living rent free in your head
42,850 posts, read 26,275,432 times
Reputation: 34058
Quote:
Originally Posted by CaliRestoration View Post
Nevada's booming economy is proof of this policies success.
It doesn't seem too bad to me, but why not better articulate your point? Are you claiming that their split roll tax has slowed their economic growth?

https://www.bea.gov/regional/bearfac...TATE&geotype=3

http://nevadaworkforce.com/Portals/1...urrent_EIB.pdf
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Old 08-03-2018, 09:44 AM
 
6,089 posts, read 4,987,805 times
Reputation: 5985
Quote:
Originally Posted by 2sleepy View Post
It doesn't seem too bad to me, but why not better articulate your point?
"doesn't seem too bad to me"

Really? What's "good" about the Nevada economy in your "analysis"? What are the emerging industries (non-tourism based) in Nevada that you would dump money into? Why? Because I'm always looking for opportunities.

Quote:
Are you claiming that their split roll tax has slowed their economic growth?
I'm claiming that increased property taxes targeting business has the effect of increasing cost of doing business which naturally stunts private sector business growth. This has been the case 100% of the time everywhere and there are literally no counter examples anywhere to dispute this. It's literally the economic equivalent of saying 'water is wet'.
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Old 08-03-2018, 10:57 AM
 
Location: Living rent free in your head
42,850 posts, read 26,275,432 times
Reputation: 34058
Quote:
Originally Posted by CaliRestoration View Post
I'm claiming that increased property taxes targeting business has the effect of increasing cost of doing business which naturally stunts private sector business growth. This has been the case 100% of the time everywhere and there are literally no counter examples anywhere to dispute this. It's literally the economic equivalent of saying 'water is wet'.
Prove it then.
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Old 08-03-2018, 12:12 PM
 
6,089 posts, read 4,987,805 times
Reputation: 5985
Quote:
Originally Posted by 2sleepy View Post
Prove it then.
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Old 08-03-2018, 12:14 PM
 
Location: Living rent free in your head
42,850 posts, read 26,275,432 times
Reputation: 34058
I thought we were talking about Nevada
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Old 08-03-2018, 12:16 PM
 
Location: On the water.
21,736 posts, read 16,350,818 times
Reputation: 19830
Quote:
Originally Posted by CaliRestoration View Post
"
I'm claiming that increased property taxes targeting business has the effect of increasing cost of doing business which naturally stunts private sector business growth. This has been the case 100% of the time everywhere and there are literally no counter examples anywhere to dispute this. It's literally the economic equivalent of saying 'water is wet'.
And California’s suffering is somehow restricting it from growth, eh? Tough to be so burdened when you are only the 5th strongest economy in the world, no?
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Old 08-03-2018, 11:21 PM
 
Location: where the good looking people are
3,814 posts, read 4,011,395 times
Reputation: 3284
Quote:
Originally Posted by Tulemutt View Post
And California’s suffering is somehow restricting it from growth, eh? Tough to be so burdened when you are only the 5th strongest economy in the world, no?
Business that leave CA due to taxes don't belong here anyways.

If you can not afford to be HQ'd on the west coast or NYC, your business than go the wasteland that is middle america.
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Old 08-06-2018, 08:35 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16698
Quote:
Originally Posted by WizardOfRadical View Post
Business that leave CA due to taxes don't belong here anyways.

If you can not afford to be HQ'd on the west coast or NYC, your business than go the wasteland that is middle america.
You think Chicago, Dallas, Atlanta, etc are wasteland?
Ca had lost slot of film and tv production to ga because of taxes.
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