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  • December 14, 2009 at 9:37 PM #16807
    jpinpb
    Participant

    I’ve got a question about Proposition 13. I think I’ve read the answer somewhere, but now I can’t find it, so maybe someone here can help me out.

    My friend inherited her father’s house that’s paid off. Low property tax. House was originally bought in the ’50’s.

    She is now thinking of refinancing the house and extracting equity. If she does this, will it effect the amount of what she pays in property tax?

    I think I did read that if you add to a house and get permits, that will sort of trigger a red flag and cause the house to be reassessed. I just wondered if having the house appraised for a loan would set anything in motion to alert reassessment of property taxes.

    Thanks.

    December 14, 2009 at 10:54 PM #494098
    briansd1
    Guest

    re-fi does not affect property tax assessment.

    remodeling a house and getting permits only cause additional assessment on the incremental value.

    December 14, 2009 at 10:54 PM #494256
    briansd1
    Guest

    re-fi does not affect property tax assessment.

    remodeling a house and getting permits only cause additional assessment on the incremental value.

    December 14, 2009 at 10:54 PM #494644
    briansd1
    Guest

    re-fi does not affect property tax assessment.

    remodeling a house and getting permits only cause additional assessment on the incremental value.

    December 14, 2009 at 10:54 PM #494731
    briansd1
    Guest

    re-fi does not affect property tax assessment.

    remodeling a house and getting permits only cause additional assessment on the incremental value.

    December 14, 2009 at 10:54 PM #494972
    briansd1
    Guest

    re-fi does not affect property tax assessment.

    remodeling a house and getting permits only cause additional assessment on the incremental value.

    December 14, 2009 at 11:15 PM #494118
    sdrealtor
    Participant

    correct a refinance should not impact the assessed value.

    December 14, 2009 at 11:15 PM #494276
    sdrealtor
    Participant

    correct a refinance should not impact the assessed value.

    December 14, 2009 at 11:15 PM #494664
    sdrealtor
    Participant

    correct a refinance should not impact the assessed value.

    December 14, 2009 at 11:15 PM #494751
    sdrealtor
    Participant

    correct a refinance should not impact the assessed value.

    December 14, 2009 at 11:15 PM #494992
    sdrealtor
    Participant

    correct a refinance should not impact the assessed value.

    December 15, 2009 at 8:16 AM #494188
    UCGal
    Participant

    I’m in your friends situation (except we paid for the house – we bought from my dad.)

    Your friend needs to make sure the title and prop 13 rate were transfered. Perhaps that’s her concern. Perhaps she hasn’t done that step. Since her father is dead she’ll need to provide death certificate, her birth certificate (showing he’s her father, etc.) Since my dad was living, we had to get him to sign the form and get it notorized and provide my birth certificate. It can take a few months for the property tax rate to be transfered. They tried to stick us with a higher bill – but we were refunded the balance once the paper work went through.

    She needs to transfer the title to her name or else she’ll have issues when it comes time to sell. My husband’s Dad and his siblings inherited a Jersey shore bungalow – it’s still in their father’s name. Grandpa Lucio has been dead for 25 years. It’s a mess now that they’re trying to sell. And a bunch of senior citizens trying to unravel what they need to do to get the title straightened out is NOT a pretty sight. (They’re all in their 80’s)

    December 15, 2009 at 8:16 AM #494345
    UCGal
    Participant

    I’m in your friends situation (except we paid for the house – we bought from my dad.)

    Your friend needs to make sure the title and prop 13 rate were transfered. Perhaps that’s her concern. Perhaps she hasn’t done that step. Since her father is dead she’ll need to provide death certificate, her birth certificate (showing he’s her father, etc.) Since my dad was living, we had to get him to sign the form and get it notorized and provide my birth certificate. It can take a few months for the property tax rate to be transfered. They tried to stick us with a higher bill – but we were refunded the balance once the paper work went through.

    She needs to transfer the title to her name or else she’ll have issues when it comes time to sell. My husband’s Dad and his siblings inherited a Jersey shore bungalow – it’s still in their father’s name. Grandpa Lucio has been dead for 25 years. It’s a mess now that they’re trying to sell. And a bunch of senior citizens trying to unravel what they need to do to get the title straightened out is NOT a pretty sight. (They’re all in their 80’s)

    December 15, 2009 at 8:16 AM #494733
    UCGal
    Participant

    I’m in your friends situation (except we paid for the house – we bought from my dad.)

    Your friend needs to make sure the title and prop 13 rate were transfered. Perhaps that’s her concern. Perhaps she hasn’t done that step. Since her father is dead she’ll need to provide death certificate, her birth certificate (showing he’s her father, etc.) Since my dad was living, we had to get him to sign the form and get it notorized and provide my birth certificate. It can take a few months for the property tax rate to be transfered. They tried to stick us with a higher bill – but we were refunded the balance once the paper work went through.

    She needs to transfer the title to her name or else she’ll have issues when it comes time to sell. My husband’s Dad and his siblings inherited a Jersey shore bungalow – it’s still in their father’s name. Grandpa Lucio has been dead for 25 years. It’s a mess now that they’re trying to sell. And a bunch of senior citizens trying to unravel what they need to do to get the title straightened out is NOT a pretty sight. (They’re all in their 80’s)

    December 15, 2009 at 8:16 AM #494821
    UCGal
    Participant

    I’m in your friends situation (except we paid for the house – we bought from my dad.)

    Your friend needs to make sure the title and prop 13 rate were transfered. Perhaps that’s her concern. Perhaps she hasn’t done that step. Since her father is dead she’ll need to provide death certificate, her birth certificate (showing he’s her father, etc.) Since my dad was living, we had to get him to sign the form and get it notorized and provide my birth certificate. It can take a few months for the property tax rate to be transfered. They tried to stick us with a higher bill – but we were refunded the balance once the paper work went through.

    She needs to transfer the title to her name or else she’ll have issues when it comes time to sell. My husband’s Dad and his siblings inherited a Jersey shore bungalow – it’s still in their father’s name. Grandpa Lucio has been dead for 25 years. It’s a mess now that they’re trying to sell. And a bunch of senior citizens trying to unravel what they need to do to get the title straightened out is NOT a pretty sight. (They’re all in their 80’s)

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