Prop 13 (megatopic) (San Diego, San Jose: assessment, appraisers, moving)

[Reziac]

Originally Posted by Ultrarunner

It really does... I live in Oakland California and my tax bill isn't 1% but 1.8%... simply because the voters have been generous taxing property.

The biggest special assessment (about half of that part) on mine was a local (not county-wide) assessment for "Parks". I'd like to know where these mythical "parks" were, and why they were so expensive!!

[JGC97]

Originally Posted by Ultrarunner

The money is paying the long term construction debt and with Raiders leaving there was talk of demolishing the entire stadium
Plus this would cost a lot to do as it is concrete...
So Raiders out, Warriors out, A's always looking for greener pasture.

So it's about sports teams leaving? &%$@*%&$* No words, Ultra. Nothing. It's stupid!

[Reziac]

Originally Posted by Ultrarunner

The money is paying the long term construction debt and with Raiders leaving there was talk of demolishing the entire stadium

Plus this would cost a lot to do as it is concrete...

So Raiders out, Warriors out, A's always looking for greener pasture.

New stadiums are basically a subsidy for heavy construction cronies of whoever is presently in charge. That teams threaten to leave if you don't enhance their revenues by giving 'em a new stadium? Hey, I'm gonna leave if you don't build me a nice new free house. Wait, that didn't work, I must not be crony enough.

[expatCA]

Originally Posted by HereOnMars

Expat and Cali .... you're wearing this old lady out. I think I need a nap. It's been fun, though.

Enjoy your nap. I need one too.

[Pyramidsurf]

Originally Posted by Ultrarunner

Please realize that every property owner benefits from Prop 13... matters not if you bought 40 years ago or last week... the rule is the same for all...

Too often I hear home owners say they don't have Prop 13... Nothing can be farther from the truth.

I have the oldest and smallest home in my neighborhood and pay the Most taxes... not for one minute would I ever say my neighbors are living off my back...

You may say that, but it doesn't make it true. I worked in CA public finance consulting dealing directly with property taxes before I went into my current career. The reality is Prop 13 is structured like a Ponzi scheme in the same way Social Security is. New purchases pay more to fund the lower tax base of aged home purchases. Full stop. There is no other way to put it or twist it and say it is somehow something else.

The question becomes a public policy issue on if Prop 13 is beneficial to the residents of California. But it is no way shape or form a "fair" or "equitable" tax system.

[2sleepy]

Originally Posted by Pyramidsurf

You may say that, but it doesn't make it true. I worked in CA public finance consulting dealing directly with property taxes before I went into my current career. The reality is Prop 13 is structured like a Ponzi scheme in the same way Social Security is. New purchases pay more to fund the lower tax base of aged home purchases. Full stop. There is no other way to put it or twist it and say it is somehow something else.

The question becomes a public policy issue on if Prop 13 is beneficial to the residents of California. But it is no way shape or form a "fair" or "equitable" tax system.

"ponzi scheme"?

[Reziac]

Here's another thing: if your property tax can go up drastically at the drop of a hat (which is what happens when there's no brakes a la Prop 13) -- how do you budget your mortgage? When you've budgeted, say, half of your income to cover the bank payment, property tax, insurance, and maintenance -- what happens when property tax suddenly balloons to as much as all the other costs combined, and suddenly the total cost is 90% of your budget??

Now, how many foreclosures, or confiscations due to nonpayment of taxes they can no longer afford, does it take to offset the alleged gains from essentially unlimited tax increases?

What? you say it's not unlimited, but rather depends on retail value? Well, not if the tax assessor has to make up a budget shortfall... without a fixed limit imposed from outside the system, there's nothing to stop them from assessing your property at whatever value they want. (Yes, I have heard of cases where everyone's assessed value and therefore taxes mysteriously went up, even tho property values in that area were stable or declining. Hmmm.)

[DougStark]

Originally Posted by Ultrarunner

Please realize that every property owner benefits from Prop 13... matters not if you bought 40 years ago or last week... the rule is the same for all...

Too often I hear home owners say they don't have Prop 13... Nothing can be farther from the truth.

I have the oldest and smallest home in my neighborhood and pay the Most taxes... not for one minute would I ever say my neighbors are living off my back...

In fact I plan to be just like them in 30 or 40 years...

Mello is totally a choice... easy to avoid.

The percentage of homes under Mello is small and Mello sunsets... it does not go on forever.

The number of homes under Mello Roos is small? Give me some evidence, data. All of the new homes I looked at in suburban San Diego had that damn levy.

Did homeowners who bought 40 years ago have to pay a friggin Mello Roos? NO. That's why I said long time residents are living off the backs of new home buyers.

[2sleepy]

Originally Posted by DougStark

The number of homes under Mello Roos is small? Give me some evidence, data. All of the new homes I looked at in suburban San Diego had that damn levy.

Did homeowners who bought 40 years ago have to pay a friggin Mello Roos? NO. That's why I said long time residents are living off the backs of new home buyers.

You're right, Mello Roos has not been around for 40 years, it's only been law since 1982, 37 years ago. In 1985 I had a hard time finding a newer home in Northern California that didn't have Mello Roos.

[DougStark]

Originally Posted by 2sleepy

Because it would have pushed people like my 100 year old Aunt in San Jose out of her house with no affordable housing option available. She lived in the same house since 1950 when she and my uncle bought the house for under 10k. When she died two years ago her house sold for $1,100,000. Without prop 13 Her tax bill without bond measures would have been $13,000 a year. That is more than what she received from Social Security. Even though her property tax was low, she paid it for many, many years. If we change anything about prop 13 it should be to allow reappraisal and increases for commercial property and rentals.

Sorry, 2sleepy. I'm not shedding tears for your dear aunt who has ridden to the top of the real estate roller coaster in uber expensive San Jose. Options: reverse mortgage, or sell (and reap a huge profit) and move somewhere that has "normal" home prices. She would live lavishly in most metros not on the coasts.