- This topic has 45 replies, 6 voices, and was last updated 15 years ago by
Raymond.
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AuthorPosts
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March 12, 2008 at 5:05 PM #12081
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March 12, 2008 at 5:18 PM #168170
Bugs
ParticipantThe amounts of the tax assessments will vary widely based on what their prior sales prices were like. If the most recent sale on one of them was in 2000 and their other in 2005 the assessments for each would be different by 100% or more. And those differences would be divided by land and improvements, the former showing more increase than the latter.
Regardless, the properties will be reassessed again if/when they sell, and those assessments will be based on the sale prices.
Other than that, I’d suggest you stop looking at assessments altogether. You’re not going to learn anything relevant about the property from an assessment.
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March 12, 2008 at 5:51 PM #168187
Raymond
ParticipantThanks Bugs. As a potential buyer comparing ownership costs between the two: one will cost $599/month in property taxes while the other will cost $219/month and this factor is affecting my choice. Am I looking at this right, and are assessments done annually?
One more question please, for anyone who knows the answer out there.
I want to move to San Diego (from another state) for family reasons. For mortgage rates considerations, is it better to move to the state first before buying a home or try and buy before I move? Thanks.
Raymond
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March 12, 2008 at 6:59 PM #168205
equalizer
ParticipantYou want to buy before moving here without knowing anything about taxes here? Just chill out and rent for a while and get to know the area. BTW, due to prop 13, the taxes are about 1.1% of purchase prices with 2% increase annually. Then there are Mello-Roos which pays for schools and road, 20-40 year bonds that run 100-500 a month. Don’t forget Home owners fee which can run 50-300 a month on average. Prior assessment is N/A.
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March 12, 2008 at 7:17 PM #168220
Bugs
ParticipantAs EQ said, the property gets reassessed automatically when it sells. Thereafter, the maximum the assessment can increase is 2%/year. That’s probably why the one property has such a low assessment right now and the other one doesn’t.
In other words, if both properties were to sell for $400,000 each, they’d both wind up with identical or nearly identical assessments of about $4,500/year. The assessment is based on the most recent sale price.
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March 12, 2008 at 7:22 PM #168230
patientlywaiting
ParticipantPeople from other parts of the country might not be familiar with Prop 13. In ohter parts of the country, properties are reassessed every year and owners are taxed on a assessed value, regardless of when the property was purchased.
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March 12, 2008 at 7:22 PM #168558
patientlywaiting
ParticipantPeople from other parts of the country might not be familiar with Prop 13. In ohter parts of the country, properties are reassessed every year and owners are taxed on a assessed value, regardless of when the property was purchased.
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March 12, 2008 at 7:22 PM #168561
patientlywaiting
ParticipantPeople from other parts of the country might not be familiar with Prop 13. In ohter parts of the country, properties are reassessed every year and owners are taxed on a assessed value, regardless of when the property was purchased.
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March 12, 2008 at 7:22 PM #168589
patientlywaiting
ParticipantPeople from other parts of the country might not be familiar with Prop 13. In ohter parts of the country, properties are reassessed every year and owners are taxed on a assessed value, regardless of when the property was purchased.
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March 12, 2008 at 7:22 PM #168661
patientlywaiting
ParticipantPeople from other parts of the country might not be familiar with Prop 13. In ohter parts of the country, properties are reassessed every year and owners are taxed on a assessed value, regardless of when the property was purchased.
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March 12, 2008 at 7:17 PM #168548
Bugs
ParticipantAs EQ said, the property gets reassessed automatically when it sells. Thereafter, the maximum the assessment can increase is 2%/year. That’s probably why the one property has such a low assessment right now and the other one doesn’t.
In other words, if both properties were to sell for $400,000 each, they’d both wind up with identical or nearly identical assessments of about $4,500/year. The assessment is based on the most recent sale price.
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March 12, 2008 at 7:17 PM #168551
Bugs
ParticipantAs EQ said, the property gets reassessed automatically when it sells. Thereafter, the maximum the assessment can increase is 2%/year. That’s probably why the one property has such a low assessment right now and the other one doesn’t.
In other words, if both properties were to sell for $400,000 each, they’d both wind up with identical or nearly identical assessments of about $4,500/year. The assessment is based on the most recent sale price.
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March 12, 2008 at 7:17 PM #168579
Bugs
ParticipantAs EQ said, the property gets reassessed automatically when it sells. Thereafter, the maximum the assessment can increase is 2%/year. That’s probably why the one property has such a low assessment right now and the other one doesn’t.
In other words, if both properties were to sell for $400,000 each, they’d both wind up with identical or nearly identical assessments of about $4,500/year. The assessment is based on the most recent sale price.
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March 12, 2008 at 7:17 PM #168652
Bugs
ParticipantAs EQ said, the property gets reassessed automatically when it sells. Thereafter, the maximum the assessment can increase is 2%/year. That’s probably why the one property has such a low assessment right now and the other one doesn’t.
In other words, if both properties were to sell for $400,000 each, they’d both wind up with identical or nearly identical assessments of about $4,500/year. The assessment is based on the most recent sale price.
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March 12, 2008 at 6:59 PM #168532
equalizer
ParticipantYou want to buy before moving here without knowing anything about taxes here? Just chill out and rent for a while and get to know the area. BTW, due to prop 13, the taxes are about 1.1% of purchase prices with 2% increase annually. Then there are Mello-Roos which pays for schools and road, 20-40 year bonds that run 100-500 a month. Don’t forget Home owners fee which can run 50-300 a month on average. Prior assessment is N/A.
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March 12, 2008 at 6:59 PM #168536
equalizer
ParticipantYou want to buy before moving here without knowing anything about taxes here? Just chill out and rent for a while and get to know the area. BTW, due to prop 13, the taxes are about 1.1% of purchase prices with 2% increase annually. Then there are Mello-Roos which pays for schools and road, 20-40 year bonds that run 100-500 a month. Don’t forget Home owners fee which can run 50-300 a month on average. Prior assessment is N/A.
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March 12, 2008 at 6:59 PM #168564
equalizer
ParticipantYou want to buy before moving here without knowing anything about taxes here? Just chill out and rent for a while and get to know the area. BTW, due to prop 13, the taxes are about 1.1% of purchase prices with 2% increase annually. Then there are Mello-Roos which pays for schools and road, 20-40 year bonds that run 100-500 a month. Don’t forget Home owners fee which can run 50-300 a month on average. Prior assessment is N/A.
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March 12, 2008 at 6:59 PM #168638
equalizer
ParticipantYou want to buy before moving here without knowing anything about taxes here? Just chill out and rent for a while and get to know the area. BTW, due to prop 13, the taxes are about 1.1% of purchase prices with 2% increase annually. Then there are Mello-Roos which pays for schools and road, 20-40 year bonds that run 100-500 a month. Don’t forget Home owners fee which can run 50-300 a month on average. Prior assessment is N/A.
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March 12, 2008 at 8:27 PM #168265
SD Realtor
ParticipantRaymond, if you can, try to rent for a year or so before you buy. I could not recommend that strongly enough.
SD Realtor
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March 12, 2008 at 9:19 PM #168290
vagabondo
ParticipantCorrection – some states may assess annually while others vary. We moved from PA to CA in 2006. The last assessment in PA was 1999.
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March 12, 2008 at 9:19 PM #168617
vagabondo
ParticipantCorrection – some states may assess annually while others vary. We moved from PA to CA in 2006. The last assessment in PA was 1999.
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March 12, 2008 at 9:19 PM #168620
vagabondo
ParticipantCorrection – some states may assess annually while others vary. We moved from PA to CA in 2006. The last assessment in PA was 1999.
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March 12, 2008 at 9:19 PM #168649
vagabondo
ParticipantCorrection – some states may assess annually while others vary. We moved from PA to CA in 2006. The last assessment in PA was 1999.
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March 12, 2008 at 9:19 PM #168723
vagabondo
ParticipantCorrection – some states may assess annually while others vary. We moved from PA to CA in 2006. The last assessment in PA was 1999.
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March 12, 2008 at 10:50 PM #168330
SD Realtor
ParticipantAs Bugs said all you really need to do is look at the previous sales of each home. The first one was last sold in 1997 at a price of 177k. Without any reassessment this home was limited by prop13 for how much it could increase each year. Obviously this is the one with the 66k land assessment. The other one was sold back in 2005 for a price of 575k and the assessment is obviously much higher.
Again though, I would rent for awhile before buying.
SD Realtor
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March 13, 2008 at 6:37 PM #169038
Raymond
ParticipantThe tax assessment info was very helpful, thanks. I think that’s a better system than where I live now. Some here are taxed out of their homes they bought decades ago. The county takes an annual valuation average for a district then applies that rate to all homeowners in that district. And in today’s sky high valuations……you see the picture.
I used to live in the Monterey peninsula back in the 80’s and even then I liked San Diego’s location, people mix and weather. So the area would not be a complete unknown.
~Ray
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March 13, 2008 at 6:37 PM #169366
Raymond
ParticipantThe tax assessment info was very helpful, thanks. I think that’s a better system than where I live now. Some here are taxed out of their homes they bought decades ago. The county takes an annual valuation average for a district then applies that rate to all homeowners in that district. And in today’s sky high valuations……you see the picture.
I used to live in the Monterey peninsula back in the 80’s and even then I liked San Diego’s location, people mix and weather. So the area would not be a complete unknown.
~Ray
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March 13, 2008 at 6:37 PM #169371
Raymond
ParticipantThe tax assessment info was very helpful, thanks. I think that’s a better system than where I live now. Some here are taxed out of their homes they bought decades ago. The county takes an annual valuation average for a district then applies that rate to all homeowners in that district. And in today’s sky high valuations……you see the picture.
I used to live in the Monterey peninsula back in the 80’s and even then I liked San Diego’s location, people mix and weather. So the area would not be a complete unknown.
~Ray
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March 13, 2008 at 6:37 PM #169395
Raymond
ParticipantThe tax assessment info was very helpful, thanks. I think that’s a better system than where I live now. Some here are taxed out of their homes they bought decades ago. The county takes an annual valuation average for a district then applies that rate to all homeowners in that district. And in today’s sky high valuations……you see the picture.
I used to live in the Monterey peninsula back in the 80’s and even then I liked San Diego’s location, people mix and weather. So the area would not be a complete unknown.
~Ray
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March 13, 2008 at 6:37 PM #169473
Raymond
ParticipantThe tax assessment info was very helpful, thanks. I think that’s a better system than where I live now. Some here are taxed out of their homes they bought decades ago. The county takes an annual valuation average for a district then applies that rate to all homeowners in that district. And in today’s sky high valuations……you see the picture.
I used to live in the Monterey peninsula back in the 80’s and even then I liked San Diego’s location, people mix and weather. So the area would not be a complete unknown.
~Ray
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March 12, 2008 at 10:50 PM #168658
SD Realtor
ParticipantAs Bugs said all you really need to do is look at the previous sales of each home. The first one was last sold in 1997 at a price of 177k. Without any reassessment this home was limited by prop13 for how much it could increase each year. Obviously this is the one with the 66k land assessment. The other one was sold back in 2005 for a price of 575k and the assessment is obviously much higher.
Again though, I would rent for awhile before buying.
SD Realtor
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March 12, 2008 at 10:50 PM #168662
SD Realtor
ParticipantAs Bugs said all you really need to do is look at the previous sales of each home. The first one was last sold in 1997 at a price of 177k. Without any reassessment this home was limited by prop13 for how much it could increase each year. Obviously this is the one with the 66k land assessment. The other one was sold back in 2005 for a price of 575k and the assessment is obviously much higher.
Again though, I would rent for awhile before buying.
SD Realtor
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March 12, 2008 at 10:50 PM #168689
SD Realtor
ParticipantAs Bugs said all you really need to do is look at the previous sales of each home. The first one was last sold in 1997 at a price of 177k. Without any reassessment this home was limited by prop13 for how much it could increase each year. Obviously this is the one with the 66k land assessment. The other one was sold back in 2005 for a price of 575k and the assessment is obviously much higher.
Again though, I would rent for awhile before buying.
SD Realtor
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March 12, 2008 at 10:50 PM #168762
SD Realtor
ParticipantAs Bugs said all you really need to do is look at the previous sales of each home. The first one was last sold in 1997 at a price of 177k. Without any reassessment this home was limited by prop13 for how much it could increase each year. Obviously this is the one with the 66k land assessment. The other one was sold back in 2005 for a price of 575k and the assessment is obviously much higher.
Again though, I would rent for awhile before buying.
SD Realtor
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March 12, 2008 at 8:27 PM #168593
SD Realtor
ParticipantRaymond, if you can, try to rent for a year or so before you buy. I could not recommend that strongly enough.
SD Realtor
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March 12, 2008 at 8:27 PM #168595
SD Realtor
ParticipantRaymond, if you can, try to rent for a year or so before you buy. I could not recommend that strongly enough.
SD Realtor
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March 12, 2008 at 8:27 PM #168624
SD Realtor
ParticipantRaymond, if you can, try to rent for a year or so before you buy. I could not recommend that strongly enough.
SD Realtor
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March 12, 2008 at 8:27 PM #168696
SD Realtor
ParticipantRaymond, if you can, try to rent for a year or so before you buy. I could not recommend that strongly enough.
SD Realtor
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March 12, 2008 at 5:51 PM #168511
Raymond
ParticipantThanks Bugs. As a potential buyer comparing ownership costs between the two: one will cost $599/month in property taxes while the other will cost $219/month and this factor is affecting my choice. Am I looking at this right, and are assessments done annually?
One more question please, for anyone who knows the answer out there.
I want to move to San Diego (from another state) for family reasons. For mortgage rates considerations, is it better to move to the state first before buying a home or try and buy before I move? Thanks.
Raymond
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March 12, 2008 at 5:51 PM #168516
Raymond
ParticipantThanks Bugs. As a potential buyer comparing ownership costs between the two: one will cost $599/month in property taxes while the other will cost $219/month and this factor is affecting my choice. Am I looking at this right, and are assessments done annually?
One more question please, for anyone who knows the answer out there.
I want to move to San Diego (from another state) for family reasons. For mortgage rates considerations, is it better to move to the state first before buying a home or try and buy before I move? Thanks.
Raymond
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March 12, 2008 at 5:51 PM #168544
Raymond
ParticipantThanks Bugs. As a potential buyer comparing ownership costs between the two: one will cost $599/month in property taxes while the other will cost $219/month and this factor is affecting my choice. Am I looking at this right, and are assessments done annually?
One more question please, for anyone who knows the answer out there.
I want to move to San Diego (from another state) for family reasons. For mortgage rates considerations, is it better to move to the state first before buying a home or try and buy before I move? Thanks.
Raymond
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March 12, 2008 at 5:51 PM #168618
Raymond
ParticipantThanks Bugs. As a potential buyer comparing ownership costs between the two: one will cost $599/month in property taxes while the other will cost $219/month and this factor is affecting my choice. Am I looking at this right, and are assessments done annually?
One more question please, for anyone who knows the answer out there.
I want to move to San Diego (from another state) for family reasons. For mortgage rates considerations, is it better to move to the state first before buying a home or try and buy before I move? Thanks.
Raymond
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March 12, 2008 at 5:18 PM #168496
Bugs
ParticipantThe amounts of the tax assessments will vary widely based on what their prior sales prices were like. If the most recent sale on one of them was in 2000 and their other in 2005 the assessments for each would be different by 100% or more. And those differences would be divided by land and improvements, the former showing more increase than the latter.
Regardless, the properties will be reassessed again if/when they sell, and those assessments will be based on the sale prices.
Other than that, I’d suggest you stop looking at assessments altogether. You’re not going to learn anything relevant about the property from an assessment.
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March 12, 2008 at 5:18 PM #168502
Bugs
ParticipantThe amounts of the tax assessments will vary widely based on what their prior sales prices were like. If the most recent sale on one of them was in 2000 and their other in 2005 the assessments for each would be different by 100% or more. And those differences would be divided by land and improvements, the former showing more increase than the latter.
Regardless, the properties will be reassessed again if/when they sell, and those assessments will be based on the sale prices.
Other than that, I’d suggest you stop looking at assessments altogether. You’re not going to learn anything relevant about the property from an assessment.
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March 12, 2008 at 5:18 PM #168529
Bugs
ParticipantThe amounts of the tax assessments will vary widely based on what their prior sales prices were like. If the most recent sale on one of them was in 2000 and their other in 2005 the assessments for each would be different by 100% or more. And those differences would be divided by land and improvements, the former showing more increase than the latter.
Regardless, the properties will be reassessed again if/when they sell, and those assessments will be based on the sale prices.
Other than that, I’d suggest you stop looking at assessments altogether. You’re not going to learn anything relevant about the property from an assessment.
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March 12, 2008 at 5:18 PM #168602
Bugs
ParticipantThe amounts of the tax assessments will vary widely based on what their prior sales prices were like. If the most recent sale on one of them was in 2000 and their other in 2005 the assessments for each would be different by 100% or more. And those differences would be divided by land and improvements, the former showing more increase than the latter.
Regardless, the properties will be reassessed again if/when they sell, and those assessments will be based on the sale prices.
Other than that, I’d suggest you stop looking at assessments altogether. You’re not going to learn anything relevant about the property from an assessment.
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