wrote:
On Mon, 11 Feb 2019 06:57:36 -0000 (UTC), Bill
wrote:

wrote:
On Sun, 10 Feb 2019 08:21:51 -0800 (PST), True North
wrote:

Sold sign up on next door property. I had called the sale and now it's
confirmed. Not bad...sold 1st day on the market. All that's left to
confirm is who I believe bought it. As far as the selling price...may
not be so good for me. The lzy provincial property assessment people
tend to rely on selling prices in the neighbourhood. Could affect me
with city property taxes.

I am happy my tax assessments are capped because house prices around
here have exploded. They are selling off the water pre-FIRM houses for
$300-400k. I already told you guys about the guy who bought a house on
the river for $460k and tore it down so he could build another one.
It might have actually not been a bad deal since the house across the
way from me, the same size, (1700 sq/ft) went for $800k and it is
still not up to current FEMA elevation.


Is why we voted in Prop. 13 in 1979. They were reassessing about 20% of
the property each year at best available use value. Lady had an old house
between two of my NCR industrial customers. House was probably able to be
sold for $10,000. Alameda county said best use was as industrial property
and valued it at $500k for tax purposes. No way either customer would have
bought the property to add to their land. My taxes on the house I bought
in 1969 for $25,000 went from $240 a year to the tax bill just before the
election, 9 years later, to $1810. One year the reassessment of the county
added about 15% to the property values and the tax rate was decreased from
$14.01 to $13.99 per $100 dollar. The $100 was divided in to 25% of the
property valuation to get your tax bill. Unbridled spending. My taxes can
go up 2% a year. So instead of a $20,000 plus tax bill I have a $2500 tax
bill. I paid $138,500 for my house in 1979. Would sell now for $1.4
million. Why should I have to pay on that value when it is really caused
by government caused inflation?

The only problem we have is in some counties where people have been in
their houses for a real long time and they were pretty cheap to start
with, the combination of the homestead exemption and the SOH cap on
raising the assessments leaves them with a pretty meager revenue
stream. Here on the coast where we have a lot of turnover and
expensive houses, it is not a problem.
Your cap goes away if you sell the house and the new guy pays on the
actual market value.




Same here, but most houses get turned over on average 5 years I think I
heard.

On Mon, 11 Feb 2019 19:15:19 -0000 (UTC), Bill
wrote:

wrote:
On Mon, 11 Feb 2019 06:57:36 -0000 (UTC), Bill
wrote:

wrote:
On Sun, 10 Feb 2019 08:21:51 -0800 (PST), True North
wrote:

Sold sign up on next door property. I had called the sale and now it's
confirmed. Not bad...sold 1st day on the market. All that's left to
confirm is who I believe bought it. As far as the selling price...may
not be so good for me. The lzy provincial property assessment people
tend to rely on selling prices in the neighbourhood. Could affect me
with city property taxes.

I am happy my tax assessments are capped because house prices around
here have exploded. They are selling off the water pre-FIRM houses for
$300-400k. I already told you guys about the guy who bought a house on
the river for $460k and tore it down so he could build another one.
It might have actually not been a bad deal since the house across the
way from me, the same size, (1700 sq/ft) went for $800k and it is
still not up to current FEMA elevation.


Is why we voted in Prop. 13 in 1979. They were reassessing about 20% of
the property each year at best available use value. Lady had an old house
between two of my NCR industrial customers. House was probably able to be
sold for $10,000. Alameda county said best use was as industrial property
and valued it at $500k for tax purposes. No way either customer would have
bought the property to add to their land. My taxes on the house I bought
in 1969 for $25,000 went from $240 a year to the tax bill just before the
election, 9 years later, to $1810. One year the reassessment of the county
added about 15% to the property values and the tax rate was decreased from
$14.01 to $13.99 per $100 dollar. The $100 was divided in to 25% of the
property valuation to get your tax bill. Unbridled spending. My taxes can
go up 2% a year. So instead of a $20,000 plus tax bill I have a $2500 tax
bill. I paid $138,500 for my house in 1979. Would sell now for $1.4
million. Why should I have to pay on that value when it is really caused
by government caused inflation?

The only problem we have is in some counties where people have been in
their houses for a real long time and they were pretty cheap to start
with, the combination of the homestead exemption and the SOH cap on
raising the assessments leaves them with a pretty meager revenue
stream. Here on the coast where we have a lot of turnover and
expensive houses, it is not a problem.
Your cap goes away if you sell the house and the new guy pays on the
actual market value.




Same here, but most houses get turned over on average 5 years I think I
heard.

Some of these are actually turned over (3d party sale) but it seems
the house swappers are keeping the old one as a rental and buying
another larger one. We also have a surprising number of kids who come
back after growing up here, moving away and coming back to buy a
house.