Tax Assessment – How low can I go?

[waywardal]

If I buy a house at large discount because it needs a lot of work, lets say $550,000, and the same house next door all fixed up is probably worth $750,000 to $800,000. How low can I expect the baseline tax assessment to be?

[JustLurking]

Your property tax is based on the price you pay. If you do major improvements that require permits, the county will reassess to take into account the cost of those improvements. Your tax has nothing to do with your neighbors. Nearly identical houses on the same street can pay vastly different property taxes based solely on when they bought. That is one of the reasons many people object to Prop 13.

[JustLurking]

Your property tax is based on the price you pay. If you do major improvements that require permits, the county will reassess to take into account the cost of those improvements. Your tax has nothing to do with your neighbors. Nearly identical houses on the same street can pay vastly different property taxes based solely on when they bought. That is one of the reasons many people object to Prop 13.

[JustLurking]

Your property tax is based on the price you pay. If you do major improvements that require permits, the county will reassess to take into account the cost of those improvements. Your tax has nothing to do with your neighbors. Nearly identical houses on the same street can pay vastly different property taxes based solely on when they bought. That is one of the reasons many people object to Prop 13.

[JustLurking]

Your property tax is based on the price you pay. If you do major improvements that require permits, the county will reassess to take into account the cost of those improvements. Your tax has nothing to do with your neighbors. Nearly identical houses on the same street can pay vastly different property taxes based solely on when they bought. That is one of the reasons many people object to Prop 13.

[JustLurking]

Your property tax is based on the price you pay. If you do major improvements that require permits, the county will reassess to take into account the cost of those improvements. Your tax has nothing to do with your neighbors. Nearly identical houses on the same street can pay vastly different property taxes based solely on when they bought. That is one of the reasons many people object to Prop 13.

[CA renter]

And one of the reasons many of us heartily support Prop 13 is that **YOU** (the buyer) are the only person who determines what your property tax bill will be.

It’s a bit like the people who complain about the “unfairness” of adjustable-rate mortgages. Everyone had the option to use a fixed-rate mortgage, but the idiots decided to use ARMs at a time when rates were historically low (instead of fixing their rates at those lows…go figure). Then, when rates rise, these ARM’ed specuvestors claim the banks are defrauding them.

Then there are the mentally-deficient who buy a house near an airport, then complain about the airplane noise and try to force the closure of the airport.

If buyers choose to overpay for a house, then they are choosing to overpay on their property taxes. Imagine if every buyer decided to stop overpaying by simply not buying at an inflated price.

If enough clueless buyers would get their heads around this fact, we wouldn’t hear so much complaining about the “unfairness” of Prop 13.

(edited)

[CA renter]

And one of the reasons many of us heartily support Prop 13 is that **YOU** (the buyer) are the only person who determines what your property tax bill will be.

It’s a bit like the people who complain about the “unfairness” of adjustable-rate mortgages. Everyone had the option to use a fixed-rate mortgage, but the idiots decided to use ARMs at a time when rates were historically low (instead of fixing their rates at those lows…go figure). Then, when rates rise, these ARM’ed specuvestors claim the banks are defrauding them.

Then there are the mentally-deficient who buy a house near an airport, then complain about the airplane noise and try to force the closure of the airport.

If buyers choose to overpay for a house, then they are choosing to overpay on their property taxes. Imagine if every buyer decided to stop overpaying by simply not buying at an inflated price.

If enough clueless buyers would get their heads around this fact, we wouldn’t hear so much complaining about the “unfairness” of Prop 13.

(edited)

[CA renter]

And one of the reasons many of us heartily support Prop 13 is that **YOU** (the buyer) are the only person who determines what your property tax bill will be.

It’s a bit like the people who complain about the “unfairness” of adjustable-rate mortgages. Everyone had the option to use a fixed-rate mortgage, but the idiots decided to use ARMs at a time when rates were historically low (instead of fixing their rates at those lows…go figure). Then, when rates rise, these ARM’ed specuvestors claim the banks are defrauding them.

Then there are the mentally-deficient who buy a house near an airport, then complain about the airplane noise and try to force the closure of the airport.

If buyers choose to overpay for a house, then they are choosing to overpay on their property taxes. Imagine if every buyer decided to stop overpaying by simply not buying at an inflated price.

If enough clueless buyers would get their heads around this fact, we wouldn’t hear so much complaining about the “unfairness” of Prop 13.

(edited)

[CA renter]

And one of the reasons many of us heartily support Prop 13 is that **YOU** (the buyer) are the only person who determines what your property tax bill will be.

It’s a bit like the people who complain about the “unfairness” of adjustable-rate mortgages. Everyone had the option to use a fixed-rate mortgage, but the idiots decided to use ARMs at a time when rates were historically low (instead of fixing their rates at those lows…go figure). Then, when rates rise, these ARM’ed specuvestors claim the banks are defrauding them.

Then there are the mentally-deficient who buy a house near an airport, then complain about the airplane noise and try to force the closure of the airport.

If buyers choose to overpay for a house, then they are choosing to overpay on their property taxes. Imagine if every buyer decided to stop overpaying by simply not buying at an inflated price.

If enough clueless buyers would get their heads around this fact, we wouldn’t hear so much complaining about the “unfairness” of Prop 13.

(edited)

[CA renter]

And one of the reasons many of us heartily support Prop 13 is that **YOU** (the buyer) are the only person who determines what your property tax bill will be.

It’s a bit like the people who complain about the “unfairness” of adjustable-rate mortgages. Everyone had the option to use a fixed-rate mortgage, but the idiots decided to use ARMs at a time when rates were historically low (instead of fixing their rates at those lows…go figure). Then, when rates rise, these ARM’ed specuvestors claim the banks are defrauding them.

Then there are the mentally-deficient who buy a house near an airport, then complain about the airplane noise and try to force the closure of the airport.

If buyers choose to overpay for a house, then they are choosing to overpay on their property taxes. Imagine if every buyer decided to stop overpaying by simply not buying at an inflated price.

If enough clueless buyers would get their heads around this fact, we wouldn’t hear so much complaining about the “unfairness” of Prop 13.

(edited)

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