Posted on 06/15/2021 8:06:52 PM PDT by SeekAndFind
The only place where migration flipped a state might be Colorado. There the Democrats are somewhat sensible. Hickenlooper is well respected. Just the way it is.
I’m a DIE HARD. FREEREPUBLIC. CONSERVATIVE
AND WILL NEVER LEAVE MY PARADISE. MARIN. SONOMA. NAPA.
Ouch.. that hurts.
The whole tax book (federal and state) needs to be burned and rewritten.
RE: The whole tax book (federal and state) needs to be burned and rewritten.
Now you’re talking. I used to be able to deduct all of my $13,000 property tax from my Federal Income tax.
But with the Trump tax reform, I can only deduct a maximum of $10,000 in property tax, which means for Federal Tax purposes, $3,000 is NOT EXEMPT.
This is the problem faced by most Long Islanders and Westchester County residents. Our property taxes are some of the highest in the country. I wished I had Texas’ property tax problem.
We then sell our calves every year and make more than double what our property taxes are on the homestead (which are not exempt) and put money in the bank. The taxes on the agricultural exempt land is nominal.
There are no state income taxes. I lose money every year on the farm so I offset our meager retirement income with my losses and pay no federal income taxes.
We live more comfortably on less income than we did in the rat race earning big incomes in our careers and raising a family. Being debt free is essential to.
Exactly!
Locusts,
Vermin??,,Wtf?
.
I’m fixin’
To go “Postal!”
qaz
Pig nuckles,
All y’all ESAD!
I was born, raised California.
Tell me I’m a Lib!
ESAD
“Your neighbor could be paying triple and more”
That is true. The alternative is what we are facing in Idaho — annual 8% hikes forcing elders on fixed incomes to sell their life-long homes where they raised their families.
So choose your poison:
1) In CA, younger people moving in next to an older couple, paying 3X the property tax for the same house, and the resulting low mobility of older couples keeping inventory low.
2) Or states without a Prop 13 forcing fixed-income elders to sell their life-long homes and move to an apartment against their will.
When we lived in CA, we found after four or five years in our home we didn’t want to move because our property taxes would have soared due to rapid house appreciation. So people stay in the home they bought to keep that low property tax and fix the property up.
The solution for younger couples and families in CA is to stay put and not move. Just be sure you recognize that market dynamic BEFORE you buy your house because it may be the last house you ever buy in California. That’s what happened to us.
A tax revolt is brewing in Idaho with repeated 8% property tax hikes that people cannot afford. There is talk of a taxpayer initiative to create something like Prop 13.
On balance I believe #1 is a lot more fair, but there is no perfect answer.
That is one way of turning the country blue.
We were the same way, knowing if we moved it would be outside CA boundaries. Most people in CA can’t even buy up, or even sell for a similar home in the same region because the prices/taxes will kill them. People are pretty much cornered.
But eventually, most those benefiting big from prop 13 will be dead. After that generation is all gone, few will benefit from the proposition as they’ll all be paying sky high taxes. That’ll happen in about 10-15 years or so.
ProtectOurFreedom wrote:
“A tax revolt is brewing in Idaho with repeated 8% property tax hikes that people cannot afford. There is talk of a taxpayer initiative to create something like Prop 13.”
The same anti-property tax is brewing in Texas also; HB3770 would have shifted the burden to a consumption tax with a broader tax base and a slight increase in sales tax.
That way, people would not be taxed out of their homes.
New buyers will find that after 5 or 10 years that THEY are the new beneficiaries of Prop 13. That’s when their tune will change and they won’t be complaining about neighbors paying too little.
All you have to do is make sure you have found the right town and neighborhood for the long-haul and stay there.
A consumption (sales) tax benefits seniors as their spending goes way down in retirement after the kids have left the nest. There is probably no system more stacked against seniors on fixed income that assessed value of real estate. It creates a LOT of resentment against the new people moving in. The old-timers see their taxes go way up to build infrastructure, add police and safety, add health care, add parks, add schools, etc all for the benefit of the new arrivals. That really pisses people off.
It's taxed on the sales price. Most of those 60+ year old homes have peaked before at about 600k won't be going up much more, because if they continued to do so, your average 60 year old 1500 sq ft cookie cutter home in the LA area in 10 years would be going for 1.3 million. That's not going to happen.
The only way that happens if their already over priced cookie cutter homes continue to go up in price with their neighbors paying a million+ bucks for a 60 year old track home. I really don't see that happening. Even at 600 or 700k, the prices are way inflated.
Off subject a bit, but all those zillions of track homes they built in the 50s and 60s, in the LA area, all the plumbing is shot. It’s reached it’s shelf life. Millions of those homes are now due for complete new plumbing. Big buck$ and a super mess to have an entire home repiped.
A 1500 sqft home in reasonable shape with a decent view of the ocean can easily get that price. I looked a house that sold in 2019 for about that price. The previous owner had a $1.8K property tax bill. The new owner was hit with a ~$15K property tax bill
This NOT GOOD news! I really wish they would stay and suffer the results of their decisions.
I’ve been a plumber since 1973, if you do your own work, you can make it custom for a good price and not have a big mess to clean up.
Just depends on your level of expertise.
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