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Old 10-17-2010, 10:37 PM
 
4,354 posts, read 2,459,597 times
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Quote:
Originally Posted by Charles View Post
Even though you are paying the tax assessor an amount greater than 1% might not mean your property tax is greater than 1%.

I too am paying a lot more than 1% (also about 1.5%) but there are other line items on the bill including bonds, mello roos, water district, Rancho Santa Margarita special assessments, and a couple things I can't remember. But my basic levy rate was indeed 1%.
Tax is tax. It does not matter if it's in your property tax bill, phone bill, cable TV bill, gas at the pumps, retail, etc, etc, etc. You add them all up figure out what percentage of your paycheck you keep ... you will be shocked! Most people pay a ever increasing % of income to tax and fees.
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Old 10-17-2010, 10:42 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 56,100,605 times
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Quote:
Originally Posted by Don9 View Post
Most people pay a ever increasing % of income to tax and fees.
Today's tax burden much lower than 30 years ago


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Old 10-17-2010, 10:49 PM
 
4,354 posts, read 2,459,597 times
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Quote:
Originally Posted by Charles View Post
Like I said, figure out just how much of your paycheck you keep. Subtract all of the local, state and federal taxes and fees. You will be shocked.
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Old 10-17-2010, 10:56 PM
 
4,354 posts, read 2,459,597 times
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How much tax do we really pay?
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Old 10-17-2010, 10:57 PM
 
Location: Everywhere and Nowhere
14,141 posts, read 16,582,958 times
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Just looking at marginal rates can be deceiving. There were a lot of write-offs then that were eliminated when they lowered the rates such as credit card interest.
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Old 10-17-2010, 10:58 PM
 
11,726 posts, read 24,828,716 times
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Quote:
Originally Posted by Charles View Post
Even though you are paying the tax assessor an amount greater than 1% might not mean your property tax is greater than 1%.

I too am paying a lot more than 1% (also about 1.5%) but there are other line items on the bill including bonds, mello roos, water district, Rancho Santa Margarita special assessments, and a couple things I can't remember. But my basic levy rate was indeed 1%.
Same here. I didn't have mello roos, but the additional .12% was for the community college district, sewer district, etc. Of course if the people in Oakland want to tax themselves into oblivion, that's their right but I sure wouldn't choose to live there.
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Old 10-17-2010, 11:44 PM
 
5,603 posts, read 8,083,461 times
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I didn't read this entire thread but I wanted to say something about Prop 13.

I don't believe some people realize how much difference in taxes there is for someone who bought property in the 1950s and someone who is buying property now. A relative of mine owned several homes she bought prior to 1970. I'm only going to quote the figures for one house but she had a house that had an assessed value of $33,000 (Market value of $700,000) and she paid taxes of $328 the last year she owned the house. The new owners taxes are around $7,000 a year.

$328 won't pay for much of anything. You would need 100 houses like this to afford one schoolteacher who makes $32,800 a year -- without any benefits. One of her other homes was an even better deal because the taxes on it were around $70 a year.

These low tax rates also apply to corporations whose property may never change hands because it is owned by a corporation. Ditto with trusts. Imagine the low taxes the studios are paying for the property they own. Imagine how little the Beverly Hills Hotel must be paying.

While I believe it is fair to keep taxes low so older people can stay in their homes, I think it's also fair to pay back taxes when the homes are eventually sold. I also believe it's fair for corporations to pay higher taxes. I don't know how it could be handled so it's fair but I think commercial property should be reassessed periodically.
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Old 10-17-2010, 11:52 PM
 
5,603 posts, read 8,083,461 times
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Just one more thing...

These days (internet) you can go to some of the real estate websites, like Blockshopper or Zilllow.com and you can see what people are paying for property taxes. If you pick an older area like Hollywood or Pasadena, you can see huge differences in the assessed values and what homes are worth today.
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Old 10-18-2010, 12:02 AM
 
5 posts, read 7,518 times
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Prop 13 was a mess in too many ways. Funny how all the "scare tactics" came true, or maybe not so funny.
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Old 10-18-2010, 12:41 AM
 
5,603 posts, read 8,083,461 times
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People don't want to overturn Prop 13 for a lot of reasons, but there has to be a fairer way to assess property taxes.

There are too many ways to get around paying taxes (or what you owe) in this country.

It's not only taxes. My relative was real estate rich but income poor so she qualified for every social service ever devised. Technically, she was below the poverty line so she even got "free government cheese."

I inherited nothing from her but as a taxpayer, I'm appalled. She wasn't the only one doing it. Her neighbors were all doing the same thing.
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