So how much is your property tax in terms of %?

[bearishgurl]

[quote=flu]Pull up your assessment, I’d be curious to see how things are broken down in your neck of the woods (removing the actual dollar amount if you so choose) or pick your neighbor house….[/quote]

I’d be a little hard-pressed to “pick” a neighbors house, flu. So many of them are protected by “Prop 13” and I would surmise their avg tax bills are $350-$800 annually :=[

[Coronita]

[quote=bearishgurl]In Eastlake Hills (91913 – circa ’87-92), I believe the MR were apportioned acc to the sq footage of the home. Actually, most of these MR bonds were 20 yr and are now retired. These owners still have two HOA’s to pay mo dues to, however, or they can choose to pay the Master Assn annually.

In several tracts of Rancho Del Rey (91910 – circa ’91-92), this MR used for “street bonds” around the approx four mile circle was also for 20 years and I believe this MR was also apportioned to owners depending on their sq footage (not sure, going to check on this one.

flu, the MR in parts of 91914 and all of 91915 is HUGE. In many cases, it amounts to more than 2.73% of assessed value, when added into the Prop 13 portion of the tax! This is really wacky for those properties just 1400-1700 sf on a 3400 sf lot. The MR + taxes + 2 HOA dues are often MORE per month than the P&I + annual insurance premium. Remember that these areas ALSO pay all those “voter approved” school bonds you see on the tax bill + the MR for their *new* schools![/quote]

Yes i understand that there are some areas with MR and special assessments. But I was led to believe that all places with MR will end up paying more taxes than areas without MR. But I’m finding out that’s not true. There appears to be a non-trivial amount of homes in NorthCounty that have MR but no special assessments.

And purely from my personal preference, I personally would rather pay my portion of Mello Ruse that mostly goes directly to the schools that my kid uses now or will use in a few years, than to pay special bond taxes that ends up going to special interests, schools, and community colleges that I am almost 99% sure will not be used my either me or people in my family…

Because if it means that those MR payments (which isn’t necessarily *that* much more than special bond assessments in other areas) end up funding 80%+ of the local schools my kid directly uses, such that they don’t heavily depend on the state budget (for which teachers are not going to be as vulnerable to layoffs, closures, when the state budget gets trimmed even further)…for me (personally), it seems like my tax dollars are better spent this way than funding some special bond that goes to some thing that my family and I have no direct benefit….

But that’s just my opinion.

[Coronita]

[quote=bearishgurl][quote=flu]Pull up your assessment, I’d be curious to see how things are broken down in your neck of the woods (removing the actual dollar amount if you so choose) or pick your neighbor house….[/quote]

I’d be a little hard-pressed to “pick” a neighbors house, flu. So many of them are protected by “Prop 13” and I would surmise their avg tax bills are $350-$800 annually :=[[/quote]

I did. The only difference between my tax bill and the home in Del Mar Mesa/Del Mar Meadows, is my home is in on a mountain with brush, so there is an extra $200/year assessment for brush management, which frankly is how much I would pay myself each year if I had to do it myself… I’m not cherry picking the least paying property tax areas in CarmelV and comparing them to the most paying property tax areas in other areas. I pulled a few houses in a few different areas, and they all came out to be the same. In some cases, CarmelV folks pay 1.07% with MR, because where they are situated, there isn’t brush and there isn’t other environment needs for some fixed assessments. But I considered those to be exceptions than the norm.

In some cases, because the fixed assessments are just that (flat rate), having a more expensive home, it ends up being a lesser percentage of your tax bill then having those special bond assessments elsewhere.

[Coronita]

[quote]
I’d be a little hard-pressed to “pick” a neighbors house, flu. So many of them are protected by “Prop 13” and I would surmise their avg tax bills are $350-$800 annually :=[
[/quote]
You’re missing the point I’m trying to make here. Prop 13 has nothing to do with the comparison I’m trying to make.

I’m comparing how much taxes people pay as a percentage of assessed value. I don’t care what the assessed value is. Because it wouldn’t be correct comparison. Anyone who buys a new home now wouldn’t have the 350-800/annual tax payment. That’s impossible.

Some folks have made the argument that people who buy a home in an MR place now will be bending over in taxes, versus buying a home in a non MR place.

That is not necessarily true. Someone buying a home in a non MR place can be just as bending over because of special assessments that aren’t even fixed assessments versus homes that have MR with no special bond assessments. So the generalization that a home “costs more” if it has MR and hence “not as desirable” as a home in an older neighborhood that doesn’t have MR isn’t a valid point…Because there are lots of places in North County that have MR, no special assessments who’s tax bill will end up being comparable to a lot of non-MR places with special bond assessments, and in some cases even come out slightly less.

And since it is now well known that Mello Ruse is tax deductible, there is no disadvantage from a tax deductibility standpoint too.

[briansd1]

[quote=Jazzman]I’m paying 0.12% this year in Maui. Lowest in the US I believe. Maui competes with many of the tax havens around the world for those living off investments.[/quote]

What’s the median price of a house in Maui? I’ve never been there so I’m kinda curious about this piece of paradise.

[spdrun]

About 1.2% of purchase price in New York. This is actually on the high side for residential in the city, though low for the state as a whole.

[The-Shoveler]

I will say this, In RC the difference can be very large between the 1.9% tax rate and the 1% rate on the tract homes across the street who go to the same schools/parks etc.…
Especially when the homes were bought at peak in 2005 and now sell for half that but the RM remains at 2005 level (were talking almost 3% at that point).
It is all relative I guess.

[Coronita]

[quote=The-Shoveler]I will say this, In RC the difference can be very large between the 1.9% tax rate and the 1% rate on the tract homes across the street who go to the same schools/parks etc.…
Especially when the homes were bought at peak in 2005 and now sell for half that but the RM remains at 2005 level (were talking almost 3% at that point).
It is all relative I guess.[/quote]

Well those homes bought at peak should have been reassessed by now.

[The-Shoveler]

[quote=flu][quote=The-Shoveler]I will say this, In RC the difference can be very large between the 1.9% tax rate and the 1% rate on the tract homes across the street who go to the same schools/parks etc.…
Especially when the homes were bought at peak in 2005 and now sell for half that but the RM remains at 2005 level (were talking almost 3% at that point).
It is all relative I guess.[/quote]

Well those homes bought at peak should have been reassessed by now.[/quote]

Absolutely
Home bought in 2005 600K 1.9% Base +MR = tax 12K (roughly)
Home now bought at 300K 1% + MR = 9K (roughly)
Home across the street 1% + a little = 3K (roughly)

The lower the cost of the home the more the MR has an impact.

[flyer]

We’re at around 1% on our properties in San Diego, some less. Even at 1%, our taxes are still very low, because, since we bought them many years ago, the purchase prices were very low.

[an]

flu, you should compare CV w/out MR vs CV with MR to have a more apple to apple comparison. They both go to the same MS and HS. A non MR area of CV have tax rate of about 1.027% vs 1.25% for your area. So that .22% comes out to ~$1800/year for a $850k house. Not that big of a deal for a $850k house, but that would be an apple to apple comparison. I think the reason CV have low MR is like Sorrento Heights in MM having low MR while most of MM don’t have MR. That is, because all of the basic infrastructure is already built out, so MR doesn’t need to be as exorbitant. However, an area like Del Sur, 4S, Eastlake, etc, where they have to build all the infrastructure, that’s when MR is quite exorbitant.

[Coronita]

[quote=AN]flu, you should compare CV w/out MR vs CV with MR to have a more apple to apple comparison. They both go to the same MS and HS. A non MR area of CV have tax rate of about 1.027% vs 1.25% for your area. So that .22% comes out to ~$1800/year for a $850k house. Not that big of a deal for a $850k house, but that would be an apple to apple comparison. I think the reason CV have low MR is like Sorrento Heights in MM having low MR while most of MM don’t have MR. That is, because all of the basic infrastructure is already built out, so MR doesn’t need to be as exorbitant. However, an area like Del Sur, 4S, Eastlake, etc, where they have to build all the infrastructure, that’s when MR is quite exorbitant.[/quote]

I’m basically disputing the notion that areas with MR always have higher taxes (as percentage of assessed value) to other older areas without MR.
Not necessarily the case.

AN, the MR in CarmelV, about $1850 goes to schools.
The rest is peanuts. This isn’t that much different from areas with special bond assessments to schools, except that in this case the MR is goind directly to the grade schools in the district (not necessarily remote schools or community colleges,etc)….

Here’s the tax breakdown for CV. Notice that assigned from the school assessments there isn’t additional fluff for infrastructure, except maybe maintenance for a hill/etc if you are in a brush zone.

% TAX ON NET VALUE NET 1.00000 21,930.00
VOTER APPROVED BONDS:
SAN DIEGO CITY OPEN SPACE FACILITY DIST NO. 1 D/S NET 0.00000 0.00
SAN DIEGO CITY ZOOLOGICAL EXHIBITS – DEBT SERVICE NET 0.00500 109.65
SAN DIEGO CITY PUBLIC SAFETY COMM SYS – DEBT SERV NET 0.00000 0.00
MWD D/S REMAINDER OF SDCWA 15019999 NET 0.00370 81.14
TOTAL ON NET VALUE 1.00870 22120.78

FIXED CHARGE ASSMTS: PHONE
MOSQUITO SURVEILLANC 800-273-5167 3.00
—-> DEL MAR ELEM CFD95-1 877-250-1503 988.54
—-> SAN DIEGUITO CFD95-1 760-753-6491 Ext. 5532 855.00
MWD WTR STANDBY CHRG 866-807-6864 11.50
CWA WTR AVAILABILITY 858-522-6900 10.00
VECTOR DISEASE CTRL 800-273-5167 5.86
TOTAL AMOUNT 23994.68

[sdrealtor]

Lizardland Primary Residence ($7000 homeowners exemption)

1% TAX ON NET VALUE NET 1.00000 4,699.41
VOTER APPROVED BONDS:
GEN BOND ENCINITAS 1996A NET 0.02350 110.83
GEN BOND ENCINITAS-PROP P 11/02/10, SERIES 2011A NET 0.00000 0.00
MWD D/S REMAINDER OF SDCWA 15019999 NET 0.00370 17.45
TOTAL ON NET VALUE 1.02720 4844.68

FIXED CHARGE ASSMTS: PHONE
SAN DIEGUITO CFD94-2 760-753-6491 Ext. 5532 800.00
LEUC. WASTEWATER FEE 760-753-0155 258.22
MWD WTR STANDBY CHRG 866-807-6864 11.50
VECTOR DISEASE CTRL 800-273-5167 5.86
MOSQUITO SURVEILLANC 800-273-5167 3.00
ASSMT DIST 96-1 760-753-6466 48.50
LTG/LANDSCAPE ZN M 866-427-4304 8.34
CWA WTR AVAILABILITY 858-522-6900 10.00
CARLSBAD LIGHTING #1 866-427-4304 26.00

TOTAL AMOUNT 5999.10

[an]

[quote=flu]I’m basically disputing the notion that areas with MR always have higher taxes (as percentage of assessed value) to other older areas without MR.
Not necessarily the case.

AN, the MR in CarmelV, about $1850 goes to schools.
The rest is peanuts. This isn’t that much different from areas with special bond assessments to schools, except that in this case the MR is goind directly to the grade schools in the district (not necessarily remote schools or community colleges,etc)….[/quote]
I agree with your argument. I did state why I think CV MR is not that big of a deal. It’s not special to CV. I think for areas that have mostly built out infrastructure, the MR shouldn’t be that big of a deal. It’s only brand new areas like San Elijo, Del Sur, 4S, etc that it can get crazy. The reason CV doesn’t have bond for community colleges because it’s a tiny area and there probably won’t ever be a CC that gets built there. Just look at San Elijo Hills. Since it’s part of San Marcos, although it’s new and have MR, it has to pay the bond for PALOMAR COMMUNITY COLL PROP M.

[an]

dup

[Author]

Posts