Property tax
Possible End to Housing Shortage in CA?
There is a new voter measure that could put an end to the housing shortage in California if placed on the November voting ballot and passed. The proposition would allow homeowners 55 and older to reap tax benefits upon selling their homes by eliminating the “disincentive” to sell, and making it possible to move to…
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How the New Tax Reform Could Effect Real Estate
If you own a home or are thinking about purchasing one, you need to be aware of how the new proposed tax reforms could effect you and the effect they may have on the real estate market. Here are some of the proposed changes: Tax Increases/Doubling of the Standard Deduction. Taxes could increase for hundreds…
Read MoreEverything You Need to Know About California Property Taxes
With the deadline for payment of the second installment of property taxes already here, here is some helpful information for all property tax payers: Annual property tax bills are sent out once a year, on October 1, and are payable in two installments. The first installment is due November 1 and is delinquent if not…
Read MoreBeware: Property Taxes on Your New Home Could be Higher Than Anticipated
An investor client called me a few weeks ago and told me that the county assessor sent him property tax bills for an amount higher than the standard 1.25% on his recently purchased property. He didn’t understand why the taxes were higher, and needed advice on what he should do. Most real estate agents correctly…
Read MoreAs Home Prices Rise, So May Your Property Taxes
The decline in the real estate market these last several years led many California homeowners to seek reductions in their property taxes. All they had to do was show the decline in market value of their homes, via a comparative market analysis, and local tax assessors were generous in granting annual reductions. BUT… now that…
Read MoreWhat in the World are “Mello-Roos?”
Mello-Roos taxes are common in many areas of California, so if you are buying a home that is newer you should know what they are. Many people do not understand the purpose behind them, or why they have to pay them; in fact, it is a question many buyers have asked me over the years.…
Read MoreProperty Tax Bills May Go Down
Good news for California homeowners: there is a good chance your property tax bill will decrease this year. Proposition 13, which puts a cap on the maximum amount property tax bills can be raised, is to thank; it prohibits property taxes from rising more than 2% annually. This number is based on the Consumer Price…
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