Posted on 05/20/2022 10:34:05 AM PDT by hardspunned
Anne Van Donsel said she didn't quite believe it when her hometown of Burlington, Vermont, last year sent her a new property tax assessment stating that the value of her home had doubled — raising her property taxes by 20%. Her property taxes jumped to about $12,000 a year, up from $10,000, a bump she said is adding to the financial strain as inflation pushes up the cost of food and other necessities. While Van Donsel appealed the assessment, she was given only a small reduction in the value of her home, which didn't make a dent in her new tax bill.
(Excerpt) Read more at apple.news ...
but when you buy a new home you pay the corresponding tax bill, say 400k house tax would be 8,000, and with housing prices in cali right now... I am glad my senior park 45k house is paid for. tax should be about 300.00 this year
not really most cities have some type of add’l sales tax added to the states sales tax for extra money.
And that's over $1000.
Whoopee!
Prop 13 is a way for politicians to by votes with taxpayers' money.
It prohibits reassessment of a new base year value except in cases if there's a change in ownership or for new construction. The current owners can afford to live there but their kids can't buy a house in the same town or county because any new owner ends up paying significantly higher taxes in order to cover the gap because their neighbors pay less - for the same services.
The only way out of the government financial hole is to cut spending which politicians won't do because current homeowners don't feel the impact since their taxes are capped.
"We were here first, you pay more because you're the new guy" leads to unsold houses because the taxes are too high. The houses then get rented to packs of illegal aliens, including MS-13. It's been going on for more than a decade in Long Island, New York. Yes, the Democrats' solution to the spending problem is to spend more and declare "Sanctuary Cities" in order to fill them with illegal aliens.
It is NOT coincidental that California is being overrun with illegal aliens.
Most assessments are already well below market value.
We are both speculating—real numbers would be helpful.
I would think families would try very hard to keep the house in the family.
It’s a very good deal for home owners. You won’t be taxed out of your house.
“Under Proposition 13, the annual real estate tax on a parcel of property is limited to 1% of its assessed value. This “assessed value” may be increased only by a maximum of 2% per year until, and unless, the property has a change of ownership. At the time of the change in ownership the low assessed value may be reassessed to complete current market value that will produce a new base year value for the property, but future assessments are likewise restricted to the 2% annual maximum increase of the new base year value.”
So 3 adult kids are going to share the home? That’s not real world.
It’s why inheritances usually always require the home be sold with the proceeds distributed equally amongst the kids. It’s the only fair way in most all cases.
So are you saying that one should essentially cede their homeownership to the government?
The problem is that I don’t believe ones home should be taxed at all let alone increasing on a regular basis. These like seniors, are on a fixed income and could end up not being able to stay in their homes as they age. Plus with the taxes you never really own your home the government does.
Staying in motels while work’s being done is a form of torture. Sorry you had to go through that.
When I see someone complaining about $12K property tax...
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My county (2nd poorest in the state) LOWERED the mil rate to compensate for rising valuations. My state has a Homestead Tax Refund program. I think it’s about 1/3 of the property tax, with income limits.
Also, our electric co-op will rebate a percentage for using 660 KwH or less.
I wish our power utility did that. My all-electric, two-story house usually pulls less power than that each month. I'm about to pull less than that even though we ordered an EV. If my calculations for the EV and my solar upgrade are as accurate as they were for the original solar install, our highest power draw each year will be around 300 kWh. And that's during the winter (read: less solar power) and with driving an EV ~200 miles per week and my wife and I often getting in the hot tub (read: using up battery power in the evening and still usually, but not always, having enough battery storage to power the house through the night).
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