By spot to live that isn’t more than 20 minutes from downtown…

[Jumby]

Yes, just weighing all the options….

When I lived in Diego I didn’t own so I’m not familiar with the property tax laws. Question, if I were able to build something for 600k total, but it would appraise at 750k, how would it be assessed?

And, after it’s been assessed, what is the cap it can rise every year?

[SD Realtor]

So many will be better at answering then I… Rus you probably know….

So I believe after you build and then convert the construction loan to a mortgage then I “believe” the assessment will be based on the new appraisal.

That is JUST MY GUESS though so don’t take it as gospel. Assume your property tax will be 1.15% after taking bond measures and such into account. You can read up on Prop 13 to find out about the cap on annual increases… It is pretty stringent but yeah they do go up a little bit each year. Like I said, google california prop13 and read up…I am to lazy this morning to do it.

SD Realtor

[SD Realtor]

So many will be better at answering then I… Rus you probably know….

So I believe after you build and then convert the construction loan to a mortgage then I “believe” the assessment will be based on the new appraisal.

That is JUST MY GUESS though so don’t take it as gospel. Assume your property tax will be 1.15% after taking bond measures and such into account. You can read up on Prop 13 to find out about the cap on annual increases… It is pretty stringent but yeah they do go up a little bit each year. Like I said, google california prop13 and read up…I am to lazy this morning to do it.

SD Realtor

[SD Realtor]

So many will be better at answering then I… Rus you probably know….

So I believe after you build and then convert the construction loan to a mortgage then I “believe” the assessment will be based on the new appraisal.

That is JUST MY GUESS though so don’t take it as gospel. Assume your property tax will be 1.15% after taking bond measures and such into account. You can read up on Prop 13 to find out about the cap on annual increases… It is pretty stringent but yeah they do go up a little bit each year. Like I said, google california prop13 and read up…I am to lazy this morning to do it.

SD Realtor

[SD Realtor]

So many will be better at answering then I… Rus you probably know….

So I believe after you build and then convert the construction loan to a mortgage then I “believe” the assessment will be based on the new appraisal.

That is JUST MY GUESS though so don’t take it as gospel. Assume your property tax will be 1.15% after taking bond measures and such into account. You can read up on Prop 13 to find out about the cap on annual increases… It is pretty stringent but yeah they do go up a little bit each year. Like I said, google california prop13 and read up…I am to lazy this morning to do it.

SD Realtor

[SD Realtor]

So many will be better at answering then I… Rus you probably know….

So I believe after you build and then convert the construction loan to a mortgage then I “believe” the assessment will be based on the new appraisal.

That is JUST MY GUESS though so don’t take it as gospel. Assume your property tax will be 1.15% after taking bond measures and such into account. You can read up on Prop 13 to find out about the cap on annual increases… It is pretty stringent but yeah they do go up a little bit each year. Like I said, google california prop13 and read up…I am to lazy this morning to do it.

SD Realtor

[Jumby]

thanks for pointing me in the right direction..

[Jumby]

thanks for pointing me in the right direction..

[Jumby]

thanks for pointing me in the right direction..

[Jumby]

thanks for pointing me in the right direction..

[Jumby]

thanks for pointing me in the right direction..

[NotCranky]

The assessor starts with the value of the land by purchase price. When you pull a building permit the assessor gets a partial copy of the plans. Sometimes they do progress checks to get the value up to date for the next assessment period. When the project is finished the owner submits a statement of the nature and quality of improvements and puts a price on it. The Assessor takes all this in to consideration and makes a final assessment and this is the tax base. I personally have always come out better according to the assessor’s work than if I had purchased a similar property.That may not always be the result. I don’t really Know.

[NotCranky]

The assessor starts with the value of the land by purchase price. When you pull a building permit the assessor gets a partial copy of the plans. Sometimes they do progress checks to get the value up to date for the next assessment period. When the project is finished the owner submits a statement of the nature and quality of improvements and puts a price on it. The Assessor takes all this in to consideration and makes a final assessment and this is the tax base. I personally have always come out better according to the assessor’s work than if I had purchased a similar property.That may not always be the result. I don’t really Know.

[NotCranky]

The assessor starts with the value of the land by purchase price. When you pull a building permit the assessor gets a partial copy of the plans. Sometimes they do progress checks to get the value up to date for the next assessment period. When the project is finished the owner submits a statement of the nature and quality of improvements and puts a price on it. The Assessor takes all this in to consideration and makes a final assessment and this is the tax base. I personally have always come out better according to the assessor’s work than if I had purchased a similar property.That may not always be the result. I don’t really Know.

[NotCranky]

The assessor starts with the value of the land by purchase price. When you pull a building permit the assessor gets a partial copy of the plans. Sometimes they do progress checks to get the value up to date for the next assessment period. When the project is finished the owner submits a statement of the nature and quality of improvements and puts a price on it. The Assessor takes all this in to consideration and makes a final assessment and this is the tax base. I personally have always come out better according to the assessor’s work than if I had purchased a similar property.That may not always be the result. I don’t really Know.

[Author]

Posts