[quote=sdrealtor]. . . I have a good friend back in NJ who pays $30,000 per year in property taxes. He lives in 100 year old Tutor home (about 3,000 sq ft in South Orange)he bought in the late 1980’s for about $350,000 and his taxes were about $10,000 at the time. In just over 20 years his taxes have tripled. In California he would have paid about $4,000 at the time fo purchase and 20 years later he might be up to $6,000. Prop 13 keeps tax revenues low for long time owners forcing the municipalities to look to new owners to make up the short fall.[/quote]
sdr, would you purchase this same home today (in NJ) if you knew your current property taxes would be $30K annually??
Just wondering . . .
Do you think it is fair for CA buyers of *new* or *newish* properties to have to “subsidize” (as you call it) the municipal/county services that longtime property owners receive (who are protected by Prop 13)??
