- This topic has 45 replies, 6 voices, and was last updated 16 years, 11 months ago by
Raymond.
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March 12, 2008 at 6:59 PM #168564March 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.
March 12, 2008 at 7:17 PM #168220Bugs
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.
March 12, 2008 at 7:17 PM #168548Bugs
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.
March 12, 2008 at 7:17 PM #168551Bugs
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.
March 12, 2008 at 7:17 PM #168579Bugs
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.
March 12, 2008 at 7:22 PM #168589patientlywaiting
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.
March 12, 2008 at 7:22 PM #168661patientlywaiting
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.
March 12, 2008 at 7:22 PM #168558patientlywaiting
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.
March 12, 2008 at 7:22 PM #168561patientlywaiting
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.
March 12, 2008 at 7:22 PM #168230patientlywaiting
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.
March 12, 2008 at 8:27 PM #168593SD 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
March 12, 2008 at 8:27 PM #168595SD 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
March 12, 2008 at 8:27 PM #168624SD 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
March 12, 2008 at 8:27 PM #168265SD 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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