LA Mayor, Antonio Villaraigosa proposes changes to Prop 13. (Los Angeles, Sacramento: short sales, foreclosures)

[drunk on kool aid]

During a speech at the Sacramento Press Club, Los Angeles Mayor Villaraigosa proposed instituting split rolls for residential and business property, with residential retaining Prop 13 limits while the cap would be lifted for business. He'd also like to see the 2/3rds rule for passing taxes to be done away with as well. The upshot would be increased money for public education. Happy days are here again?


Villaraigosa proposes changes in Proposition 13 - Los Angeles Wave (http://www.wavenewspapers.com/news/local/Villaraigosa-proposes-changes-in-Proposition-13--127908543.html - broken link)

[Vascodagama]

Originally Posted by drunk on kool aid

During a speech at the Sacramento Press Club, Los Angeles Mayor Villaraigosa proposed instituting split rolls for residential and business property, with residential retaining Prop 13 limits while the cap would be lifted for business. He'd also like to see the 2/3rds rule for passing taxes to be done away with as well. The upshot would be increased money for public education. Happy days are here again?


Villaraigosa proposes changes in Proposition 13 - Los Angeles Wave (http://www.wavenewspapers.com/news/local/Villaraigosa-proposes-changes-in-Proposition-13--127908543.html - broken link)

Good thing (former MeCHA gang member) Tony Villar has no authority over county/state law ...

[BayAreaHillbilly]

Imagine how bad property taxes would have been by now without Prop 13? Total fed - state - local tax burden in this state for homeowners would have been exceeding the worst of Europe. As it stands, total burden is on par with France or Germany. Not quite to the Belgium level yet.

[majoun]

Originally Posted by BayAreaHillbilly

Imagine how bad property taxes would have been by now without Prop 13? Total fed - state - local tax burden in this state for homeowners would have been exceeding the worst of Europe. As it stands, total burden is on par with France or Germany. Not quite to the Belgium level yet.

Doesn't Germany have very low property taxes but very high taxes on everything else? A higher total tax burden, though.

California's fiscal model is unfortunately already quite European with Prop 13 keeping property taxes down but all other taxes high.

If it were possible, I would rather have very high property taxes and low or no taxes on everything else.

[Ultrarunner]

If I had any influence my preference would have been to keep the Homeowner Exemption meaningful instead of being inflated to insignificance.

It would have been so easy to have simply indexed the exemption to inflation and that would have stopped the Prop 13 movement.

A $7500 exemption at the time a modest home was under 20k was extremely relevant to the homeowner... not so today when median homes in many areas of the State are still several hundred thousand dollars.

The reason we have Prop 13 is because those that could have easily stopped it... did nothing till it was too late.

Many were arrogant and later put their money on the Supreme Court throwing it out...

California needs Prop 13 now more than ever because history has shown the State lacks the discipline to control spending on it's own.

As for a Split Tax Roll... that would require a change to the California Constitution... unlikely in my opinion.

[TimC2462]

Originally Posted by drunk on kool aid

During a speech at the Sacramento Press Club, Los Angeles Mayor Villaraigosa proposed instituting split rolls for residential and business property, with residential retaining Prop 13 limits while the cap would be lifted for business. He'd also like to see the 2/3rds rule for passing taxes to be done away with as well. The upshot would be increased money for public education. Happy days are here again?


Villaraigosa proposes changes in Proposition 13 - Los Angeles Wave (http://www.wavenewspapers.com/news/local/Villaraigosa-proposes-changes-in-Proposition-13--127908543.html - broken link)

More like the Armageddon of taxes.

Residential and commercial properties are assessed in value at the county level. In my case, I've seen our property tax for our commercial business rise during the recession period while residential property taxes have declined greatly. Of course, there are older commercial properties that pay extremely low taxes.

Perhaps the Mayor should propose a legislation that makes sure all residential and commercial property owners pay the same rates as everybody else does. But that is likely to be shot down quickly.

[Ultrarunner]

Originally Posted by TimC2462

More like the Armageddon of taxes.

Residential and commercial properties are assessed in value at the county level. In my case, I've seen our property tax for our commercial business rise during the recession period while residential property taxes have declined greatly. Of course, there are older commercial properties that pay extremely low taxes.

Perhaps the Mayor should propose a legislation that makes sure all residential and commercial property owners pay the same rates as everybody else does. But that is likely to be shot down quickly.

My understanding is all commercial and residential property in the same tax district pay the same rate...

Of course, government owned, some non-profit and religious are exempt.

[TimC2462]

Originally Posted by Ultrarunner

My understanding is all commercial and residential property in the same tax district pay the same rate...

Of course, government owned, some non-profit and religious are exempt.

On that, I stand corrected. Maybe it's not the ensuring that rates are the same, but the assessed value. For instance, there was no change in assessed value since we purchased the property in 2006 when the economy was doing extremely well before the recession.

On the other hand, my folks' home have declined greatly in value, and the recent property tax bill reflects off that.

[BlackShoe]

More nonsense from Tony V, former gang banger, former failed attorney, MEChA member, the man that never met an illegal alien he did not like, incompetent politician that wants to be an actor, etc., we could go on and on. Now he wants to raise taxes on businesses? Just what California needs, more firms shuting down and moving to other states.

[Ultrarunner]

Originally Posted by TimC2462

On that, I stand corrected. Maybe it's not the ensuring that rates are the same, but the assessed value. For instance, there was no change in assessed value since we purchased the property in 2006 when the economy was doing extremely well before the recession.

On the other hand, my folks' home have declined greatly in value, and the recent property tax bill reflects off that.

I'm in the same boat with my home bought in 2004... it is 11k less than what I paid for it and the comps in the neighborhood (All Short Sales or Foreclosed) are down 150k.

The county started a new procedure which requires the payment of a fee and then the county has 2 years to evaluate.

In the past, I had always been successful in appealing Assessments under the informal review process... the new fee Formal Review Program seems to be the only way to get to the hearing process...

Been tempted to sell my home and buy one of the foreclosures in the area just to lock in the lower Base Assessment.