That'll teach you guys for buying at the peak. You'll be stuck with the high base no matter what. Lowering assessment is only temporary. That's a big lesson to take from the bubble.
patientlywaiting ,
Who gives a sh!t really about a few hundred dollars difference, when your mortgage is a balloon 🙂
But really, I'm not sure if I follow "you'll be stuck with a higher base". You can always request a reassessement, and yes counties do reassess downward..It's just a pain in the ass to do.
Plus I'd even venture to say, sitting it out for 5-6-7-8 years and renting might end up being a wash in my particular situation. Rent in CV isn't exactly cheap either. Plus where are the assumptions that everyone bought at peak peak? Assessments went up whether you bought at peak or not. Only in CA, they are capped, so obviously it's more advantegeous if you been an earlier, pre-peak buyer. Duh!
