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Old 02-12-2018, 11:32 AM
 
Location: San Diego
40,592 posts, read 36,428,986 times
Reputation: 24853

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Quote:
Originally Posted by expatCA View Post
Unfortunately it will only get worse.

The claim is it is for the "people", but it really isn't. You situation is flat out bad, but you can always sell and use the profit to buy and rent it out in a better State tax wise.
That's on my list, we either punch out and cash in or rent for enough to cover this mortgage and another one in a differing State.
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Old 02-12-2018, 12:27 PM
 
688 posts, read 614,334 times
Reputation: 705
Quote:
Originally Posted by 1AngryTaxPayer View Post
That's on my list, we either punch out and cash in or rent for enough to cover this mortgage and another one in a differing State.
Just keep in mind in the latter scenario you'll still have to file CA state income taxes and the FTB may come after you regarding residency. Especially if you have a higher income.
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Old 02-12-2018, 02:35 PM
 
27,566 posts, read 56,714,061 times
Reputation: 21999
I have friends that retired as State employees from Alaska... they still have their Alaska residence but spend the winters in California.

They own a home in Carmel and keep a car here.

California Franchise Tax Board routinely audits in the attempt to establish California residency.

He is a CPA and was employed as an Auditor... doesn't keep California from trying.

Keeps meticulous records to prove whereabouts...
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Old 02-12-2018, 02:55 PM
 
Location: San Diego
40,592 posts, read 36,428,986 times
Reputation: 24853
Good information to know, thanks.

I don't plan on working if we move. I already lease out a ranch/farm in CO that has gas rights on it. If I do work it will be something I want to do, like guide Elk hunts.
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Old 02-12-2018, 04:17 PM
 
688 posts, read 614,334 times
Reputation: 705
Quote:
Originally Posted by Ultrarunner View Post
I have friends that retired as State employees from Alaska... they still have their Alaska residence but spend the winters in California.

They own a home in Carmel and keep a car here.

California Franchise Tax Board routinely audits in the attempt to establish California residency.

He is a CPA and was employed as an Auditor... doesn't keep California from trying.

Keeps meticulous records to prove whereabouts...
+1, especially to the meticulous records

I read a case summary where the FTB claimed CA residency because someone who was clearly non-resident by any spirit of the law took a long trip/vacation to CA and in the middle of that, jumped out and back to (I think) Hawaii. The FTB ruled that Hawaii was a vacation and vacations can only be taken from one's state of residence....
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Old 02-12-2018, 05:49 PM
 
7,463 posts, read 5,469,931 times
Reputation: 9401
Not to change the subject, but here's an example of what $1.1 million will buy you in Solana Beach. Watch the video tour. But, hey! It's walking distance to Cedros and "west of the 5).

http://www.bubbleinfo.com/2018/02/10/cedros/
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Old 02-12-2018, 07:53 PM
 
Location: Laguna Niguel, Orange County CA
9,809 posts, read 8,945,461 times
Reputation: 7941
Quote:
Originally Posted by RosieSD View Post
Not to change the subject, but here's an example of what $1.1 million will buy you in Solana Beach. Watch the video tour. But, hey! It's walking distance to Cedros and "west of the 5).

http://www.bubbleinfo.com/2018/02/10/cedros/
Given it's location, that is hardly a shocker for the lot. 1,1m is not that much any more. That close to the beach? That close to prime real estate? Sheeet. Try that in OC.

Last edited by LuvSouthOC; 02-12-2018 at 08:05 PM..
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Old 02-12-2018, 09:20 PM
 
Location: San Diego
40,592 posts, read 36,428,986 times
Reputation: 24853
Quote:
Originally Posted by RosieSD View Post
Not to change the subject, but here's an example of what $1.1 million will buy you in Solana Beach. Watch the video tour. But, hey! It's walking distance to Cedros and "west of the 5).

http://www.bubbleinfo.com/2018/02/10/cedros/
Not really surprising with Squaremont houses going for 700K.
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Old 02-13-2018, 05:41 AM
 
Location: Riverside Ca
22,165 posts, read 25,610,879 times
Reputation: 35131
Quote:
Originally Posted by metoque View Post
Yep, I own in WA state but rent in SD. The way property taxes are collected aren't commensurate at all with the services they support. It's completely bastardized and Prop 13 doesn't solve the problem, but just shifts the burden to new home buyers.
Christ man who cares about Wa state home ownership n a P13 California argument. I’m asking about Ca where P13 is in effect. Yo7 don’t own a house here so you’re clueless as to P13. You’re even dumber for attempting to say to raise the property taxes as a renter. What do you think I do when my taxes go up on a rental? Eat the cost or tack it on the tenants tent?

It doesn’t shift any burden. Stop saying that. You just sound uninformed. ANYONE who bought 10-30 years ago are paying a pretty good chunk of money on property taxes today. Plenty of homeowners here in California have given you reasons as to why you’re wrong. But keep arguing your point. Good luck to you.
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Old 02-13-2018, 03:51 PM
 
Location: Riverside Ca
22,165 posts, read 25,610,879 times
Reputation: 35131
And I’m willing to bet if you bought in the 2009-2012 low housing price bubble pop you would be paying those exact low property taxes you’re so rabidly foaming at the mouth screaming how it’s unfair to be paying now. So you basically are the typical missed the boat Johnnie come lately whining and complaining how life is unfair. Why? Because you missed the boat on an heap house? Because you thought prices were gonna get lower and we’re waiting to “get your share” ? I’ll wait till the prices go down another 5% then I’ll buy. Opsie they went up and I gotta keep on renting. That just about cover it?
Because anyone who bought back then for less than 400,000 is paying LESS property taxes than i am for a property I bought 25 years are ago. Im not the one crying like a little girl about it. And believe me in 09-12 there were a crapload of 275-400,000 dollar houses everywhere.
I’m willing to bet my paycheck that anyone who bought a house and understands how P13 works ESPECIALLY someone who bought in the 09-12 time period absolut loves P13.
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