Brother in law owns a home that has it's taxes frozen for all this time.
They live in Lake Arrowhead and the house is worth nearly $1,000,000. They pay $1,000 per year in taxes.
Hey, if that's what the voters wanted, then that's what the wanted. However, the level of public services should be commensurate. Cut services until that level of taxation can pay for it. Anybody bitches, tell 'em to pound salt.
Tough to leave that one.
Sounds like they probably qualify for the one time seniors tax exemption for sale of a principal residence as well, too bad the state will suck its share out regardless, and the capital gains tax is still around.
And what do they get for that $1,000? Anything? Hope they're not being ripped off as usual by Big Stupid Government.
I'd say that your brother-in-law has owned his home for a long time and deserves the tax break. Considering the racing real estate market in CA, I'd say that he is in the minority and that the more recent buyers are getting jealous.
Heh, when I bought my house, I had a conversation with my elderly neighbor and was suprised to hear that he only paid $800 a year in taxes. I paid $1,900 a year for a practically identical home. I sat on the other side of that conversation a few months ago when the old man sold and my new neighbor moved in. He was shocked to hear that I'm paying $1,900...his levy is $3,800 a year.
Prop 13 is a wonderful thing. Your tax rate for your home is computed when you buy it, and you don't have to worry about tax-n-spend bureaucrats or rising property values costing you a home. Some people are shocked that high-value homes sometimes pay little tax, but it will be recouped in the end. Eventually that house will sell, and it will end up having the highest tax rate on the block.
(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")