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Old 11-23-2012, 08:42 PM
 
11,715 posts, read 40,476,314 times
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Quote:
Originally Posted by CAVA1990 View Post
Tennessee also takes more in Federal spending than it returns in taxes. CA does just the opposite. Who do you think is going to be paying for your SSI?
How does a transaction between a citizen and the federal government have anything to do with the state's inability to manage its finances?
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Old 11-23-2012, 09:26 PM
 
28,115 posts, read 63,731,080 times
Reputation: 23268
Quote:
Originally Posted by CAVA1990 View Post
Funny, old people where I live pay the same several grand a year as everyone else and I've not noticed any of them being driven from their homes. At worst they could get a home equity loan or reverse mortgage and use the piles of cash they're sitting on to pay their fair share.
Maybe Liberal California is simply more compassionate?

Never realized there was such bitterness towards the Democratic Process and people exercising their rights under the California Constitution.

The time could very well come where another grass root movement makes sweeping changes to real property taxation...

Till then, Prop 13 is the law of the Land and has been upheld in every legal challenge all the way to the US Supreme Court.
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Old 11-24-2012, 06:50 AM
 
Location: So Ca
26,764 posts, read 26,880,442 times
Reputation: 24830
Quote:
Originally Posted by CAVA1990 View Post
Funny, old people where I live pay the same several grand a year as everyone else and I've not noticed any of them being driven from their homes. At worst they could get a home equity loan or reverse mortgage and use the piles of cash they're sitting on to pay their fair share.
They've PAID their "fair share" throughout many years of home ownership. Also, taking out a HELOC to pay one's property taxes is never a good idea, especially for someone on a fixed income. That's like using a credit card to pay for your groceries. Reverse mortgages are risky right now and require a large up front fee. Many seniors don't know they'll be well enough as they advance in age to stay in their homes, which is the major benefit of a reverse mortgage.
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Old 11-24-2012, 10:05 AM
 
Location: San Diego
50,432 posts, read 47,155,129 times
Reputation: 34118
Quote:
Originally Posted by Leonard64 View Post
It isn't, it is simply jealousy that someone has a better deal than they do.
Perceived, better deal at time of sale. I know a bunch that bought high and took massive hits recently.
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Old 11-24-2012, 10:15 AM
 
364 posts, read 611,704 times
Reputation: 620
Get a reverse mortgage so that you can pay your "fair share" of taxes. What a hideous idea.

Perhaps when they run out of reverse mortgage money and loose their house they can start selling body parts to pay their "fair share" of taxes. Lets see - a kidney for the February payment, then some bone marrow for the April payment ......
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Old 11-24-2012, 10:31 AM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,280,397 times
Reputation: 6921
Quote:
Originally Posted by sunshine7793 View Post
Get a reverse mortgage so that you can pay your "fair share" of taxes. What a hideous idea.

Perhaps when they run out of reverse mortgage money and loose their house they can start selling body parts to pay their "fair share" of taxes. Lets see - a kidney for the February payment, then some bone marrow for the April payment ......
Put 'em out on the ice flows for the polar bears.
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Old 11-24-2012, 10:34 AM
 
28,115 posts, read 63,731,080 times
Reputation: 23268
Quote:
Originally Posted by CAVA1990 View Post
Put 'em out on the ice flows for the polar bears.
I thought this was a legit exchange on the future of Prop 13...

Suffice it to say... Prop 13 will always have detractors.
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Old 11-24-2012, 11:07 AM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,280,397 times
Reputation: 6921
Quote:
Originally Posted by Ultrarunner View Post
Suffice it to say... Prop 13 will always have detractors.
I appear to be to be the only one. The silence is deafening. However since I no longer live there my opinion doesn't really matter.

Seriously, my main objection is the flip side of the argument that proponents use about keeping people in their homes. It distorts the real estate market such that it artificially keeps others, often younger people, out of them. Apparently a majority of Californians see that as a good thing.

Last edited by CAVA1990; 11-24-2012 at 11:16 AM..
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Old 11-24-2012, 11:37 AM
 
Location: Orange county, CA
415 posts, read 616,409 times
Reputation: 865
Quote:
Originally Posted by Ultrarunner View Post
You bring up an excellent point...

Many other States, even neighboring States, do not have all the taxes California extracts... yet, the consensus is Californians need to pay more...

California is blessed with abundant natural resources, oil, farm land, climate, gateway ports, etc...

Yet, we are to believe property owners just are not paying enough

In my own small circle of friends and co-workers it has become a second job to educate and stop the Prop 13 mis-information.

So often I will here from a new homeowner that they don't have Prop 13?

I have to tell them that every assessed property in California has Prop 13.

How can people not know this???
I agree. Having lived in several other western states, I can honestly say Californians have no idea how much in taxes they pay. What really gets me is how much the people of this state pay and how little they see in return. The roads here are the worst I've seen, for instance.
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Old 11-24-2012, 01:22 PM
 
28,115 posts, read 63,731,080 times
Reputation: 23268
Quote:
Originally Posted by CAVA1990 View Post
I appear to be to be the only one. The silence is deafening. However since I no longer live there my opinion doesn't really matter.

Seriously, my main objection is the flip side of the argument that proponents use about keeping people in their homes. It distorts the real estate market such that it artificially keeps others, often younger people, out of them. Apparently a majority of Californians see that as a good thing.

Markets are full of distortions... especially Real Estate.

The VA loan program was seen as a huge distortion... Vets could buy home with little to no money.

Thirty year mortgages and longer are huge distortions. Just imagine a market where homes sold for cash or seller financing.

The widow I bought my second home from bought the house in 1922 new... she lived their almost her entire life. She gave me the file with all the house papers going back to 1922...

The down payment was 10 dollars US gold. The builder issued a 10 year mortgage with 10 equal payments... She took in boarders, did laundry and odd jobs during the Depression... wasn't going to loose the house and be homeless... no one voluntarily walked away from homes back then.

Right now the biggest distortion is 3% 30 year mortgages...

Everyone was young once and every generation has to find it's way.

When I bought, I bought what I could afford... a home set for condemnation and renovated it as I could afford...

My parents had the Great Depression, my Grandparents WW1, my generation had 15% mortgage rates and the worst economy since the Great Depression.

The funny thing is most I know wouldn't live in their Grandparents home/neighborhood if the house was given to them...

Last edited by Ultrarunner; 11-24-2012 at 07:41 PM..
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