[quote=bearishgurl]
A few things, here, flu. No one here is touting metro over north county or south county over east county. MR is everywhere! And North County doesn’t isn’t predominately MR-encumbered. Only the planned communities in lizardland are MR encumbered.
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No, that is not the case. CarmelV is a planned community,right? And speaking of sdr’s Lizardland. It’s planned, but take a look at sdr’s assessment. If his community is planned, as you say.. Look at his total property tax rate and fixed assessments..
He his standard rate and VAB is 1.00870%
On top of that, he has a fixed assessment lower than CarmelV (namely because he only needs to pay into San Diegiuto school district and not DMUSD, unlike CarmelV folks that need to do both)…
So his fixed assessment is only $1171.42
IF someone was buying his home today, say around $850k (I know it’s a low price), the effective tax rate on that property is 1.14%….Folks in lizardland *without VAB but with MR) aren’t going to be paying a higher tax rate then folks in ChulaV with all the VAB’s in ChulaV… Furthermore, as you say, if someone buys in newer ChulaV, they probably have both VAB and MR.
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And CV (92130) could have VAB’s in the future.
What is the ratio of rental units to owner occupied units in CV? Could tenants possibly be instrumental in voting in bond issues in CV in the future, to the detriment of owners? It’s not like an individual property owner has any control over this. If ever voted in, these VAB’s would be on top of your MR.
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Irrelevant…. What *can happen* (speculation) has no data/basis to back it up…CarmelV or areas like lizardland NorCounty hasn’t had VAB’s since beginning and it’s been like that for 10+years… It is as theorectically possible as places like MM or ChulaV to have additional VAB’s to the existing ones that drive property taxes in those areas even higher. In the interest of meaningful comparison for a homebuyer that is purchasing in present day, it only makes sense to consider what taxes is happening now, and what is well-known going to happen in the future, not what could theoretically happen.
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And I don’t buy your argument that a property currently assessed at $2M in CV would have VAB’s on its tax bill which would exceed your MR, which you say is “fixed” in your CFD(s).
This warrants further research.
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Believe it…
As you mention, there are some multi-million homes in ChulaV in 91910.. I found some off of Milagrosa Cir in 91910. Here was an example of $2.25 million home (at least that’s the assessed value when it was taxed).Looking at some of these property tax statements on homes on this street (aside from the fact that a lot of them are deliquent…surprise surprise… 🙁 ), you’ll see that they have the same VAB’s with the same tax rates on the VAB’s as the previous ChulaV homes I posted that were in the $400kish range…Actually, the interesting part is in these homes in Miagrosa Cir, they also have MR…So, it actually costs a lot more to own a home in ChulaV in this area than say CarmelV or Encinitas, purchase price being equal.
But that’s besides the point. The point is there doesn’t appear to be a cap on VAB, even if the property is considerably more expensive, as I suspected….So for a higher end/more expensive home, it actually works out better to have a lower/fixed MR versus having VAB.
