Long-time Californians about to leave the state

Self | 9/26/18 | Self

[kearnyirish2]

The reassessment when the house is sold is what I’m describing; would you buy in a neighborhood where your taxes will be $12K per year while your established neighbors pay $6K? You’re not only paying the current rate on your home, you’re making up the difference in THEIR TAXES.

[CatOwner]

It’s no great leap to understand that repealing Prop 13 for businesses is just foaming the runway for taking it away from homeowners.

Agreed, and it's one of the reasons I am fine with moving from California to Texas. We purchased our house 23 years ago, and the pending sale is at four times what we paid for it. Property taxes are less than twice what we started at, around 80% more.

In addition, our property is valued at a near peak. Peak was this summer when ridiculous offers were being made on houses for sale in our are. We're probably back to where we would have been with a gradual climb after March of this year. If Prop 13 ever gets neutered for homeowners, property values would likely fall a great deal from a substantial surplus of houses being sold.

[TChad]

Have you been hit with the California Exit Tax, too?

I left a long time ago. I finally adopted the "drown them in paperwork" strategy, which actually worked. Or maybe it was changing my address.