The Tax Assessor Reduced My Assessed Value

[Coronita]

Thanks. I didn’t think the assessor was automatically doing reassessment…I stand corrected.

I ain’t really looking for a reassessment right now. Coinicidently, I was contacting the assessor’s office about some other thing on my tax prop bill last year regarding a transition some common area that use to be HOA belonged and is now SD county belonged, and hence some taxes I’m paying. It was hard to get a hold of people, since they said they were so swamped with reassessments, and I was just asking around. But my information is a little outdated. I don’t think a reassessment wouldn’t benefit me right now, as some of therecent sales on my street have been still been closing above my currently assessed value (for now) :), so it’s probably not going to help right now. Sometime next year is a different story.

[TuVu]

I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”

[TuVu]

I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”

[TuVu]

I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”

[TuVu]

I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”

[TuVu]

I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”

[Coronita]

[quote]I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”[/quote]

That’s terrible. At least you’re not telling him to rent from you and threaten to evict him if he doesn’t pay 🙂

Actually, your parents are going to be busy sheltering all those homes from uncle sam, because if they’re not careful, you (and your siblings) are going to have a very hefty inheritance tax to pay…Property tax will be the last thing they/you need to worry about….

But considering your parents has already amassed a fortune in RE, I’m sure they are already taking proactive steps. As an informed kid of you’re parents, I’d advise getting familiar with tax situations early rather than later, even if you’re not a CPA or financial type, because making a mistake after your parents pass away will be costly. And it doesn’t hurt to have a lawyer that specializes in estate laws for your own edification. I’ve seen lots of kids completely clueless about inheritance, and suddenly when their parents passed away, lawyers, taxes, and poor knowledge pretty much cleaned them out.

Unfortunately the proposals to remove or severely limit inheritance taxes was shot down early, after it had a very good chance of passing, so there is going to be limits as to what can be passed on without taxes,etc.

For practical purposes I refer to “kid”, but I acknowledge obviously you’re an adult and frankly you might be my age or older.

[Coronita]

[quote]I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”[/quote]

That’s terrible. At least you’re not telling him to rent from you and threaten to evict him if he doesn’t pay 🙂

Actually, your parents are going to be busy sheltering all those homes from uncle sam, because if they’re not careful, you (and your siblings) are going to have a very hefty inheritance tax to pay…Property tax will be the last thing they/you need to worry about….

But considering your parents has already amassed a fortune in RE, I’m sure they are already taking proactive steps. As an informed kid of you’re parents, I’d advise getting familiar with tax situations early rather than later, even if you’re not a CPA or financial type, because making a mistake after your parents pass away will be costly. And it doesn’t hurt to have a lawyer that specializes in estate laws for your own edification. I’ve seen lots of kids completely clueless about inheritance, and suddenly when their parents passed away, lawyers, taxes, and poor knowledge pretty much cleaned them out.

Unfortunately the proposals to remove or severely limit inheritance taxes was shot down early, after it had a very good chance of passing, so there is going to be limits as to what can be passed on without taxes,etc.

For practical purposes I refer to “kid”, but I acknowledge obviously you’re an adult and frankly you might be my age or older.

[Coronita]

[quote]I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”[/quote]

That’s terrible. At least you’re not telling him to rent from you and threaten to evict him if he doesn’t pay 🙂

Actually, your parents are going to be busy sheltering all those homes from uncle sam, because if they’re not careful, you (and your siblings) are going to have a very hefty inheritance tax to pay…Property tax will be the last thing they/you need to worry about….

But considering your parents has already amassed a fortune in RE, I’m sure they are already taking proactive steps. As an informed kid of you’re parents, I’d advise getting familiar with tax situations early rather than later, even if you’re not a CPA or financial type, because making a mistake after your parents pass away will be costly. And it doesn’t hurt to have a lawyer that specializes in estate laws for your own edification. I’ve seen lots of kids completely clueless about inheritance, and suddenly when their parents passed away, lawyers, taxes, and poor knowledge pretty much cleaned them out.

Unfortunately the proposals to remove or severely limit inheritance taxes was shot down early, after it had a very good chance of passing, so there is going to be limits as to what can be passed on without taxes,etc.

For practical purposes I refer to “kid”, but I acknowledge obviously you’re an adult and frankly you might be my age or older.

[Coronita]

[quote]I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”[/quote]

That’s terrible. At least you’re not telling him to rent from you and threaten to evict him if he doesn’t pay 🙂

Actually, your parents are going to be busy sheltering all those homes from uncle sam, because if they’re not careful, you (and your siblings) are going to have a very hefty inheritance tax to pay…Property tax will be the last thing they/you need to worry about….

But considering your parents has already amassed a fortune in RE, I’m sure they are already taking proactive steps. As an informed kid of you’re parents, I’d advise getting familiar with tax situations early rather than later, even if you’re not a CPA or financial type, because making a mistake after your parents pass away will be costly. And it doesn’t hurt to have a lawyer that specializes in estate laws for your own edification. I’ve seen lots of kids completely clueless about inheritance, and suddenly when their parents passed away, lawyers, taxes, and poor knowledge pretty much cleaned them out.

Unfortunately the proposals to remove or severely limit inheritance taxes was shot down early, after it had a very good chance of passing, so there is going to be limits as to what can be passed on without taxes,etc.

For practical purposes I refer to “kid”, but I acknowledge obviously you’re an adult and frankly you might be my age or older.

[Coronita]

[quote]I try not to get upset about Prop 13. In 10 years, I think, I will be lauding it. My parents own a few homes in SD County, including La Jolla, and when they die we will inherit their property tax status, though only on their main residence…which is, unfortunately, not one of the LJ homes. It’s kind of become a joke among us sibs…”Dad, please move into one of the La Jolla rentals!”[/quote]

That’s terrible. At least you’re not telling him to rent from you and threaten to evict him if he doesn’t pay 🙂

Actually, your parents are going to be busy sheltering all those homes from uncle sam, because if they’re not careful, you (and your siblings) are going to have a very hefty inheritance tax to pay…Property tax will be the last thing they/you need to worry about….

But considering your parents has already amassed a fortune in RE, I’m sure they are already taking proactive steps. As an informed kid of you’re parents, I’d advise getting familiar with tax situations early rather than later, even if you’re not a CPA or financial type, because making a mistake after your parents pass away will be costly. And it doesn’t hurt to have a lawyer that specializes in estate laws for your own edification. I’ve seen lots of kids completely clueless about inheritance, and suddenly when their parents passed away, lawyers, taxes, and poor knowledge pretty much cleaned them out.

Unfortunately the proposals to remove or severely limit inheritance taxes was shot down early, after it had a very good chance of passing, so there is going to be limits as to what can be passed on without taxes,etc.

For practical purposes I refer to “kid”, but I acknowledge obviously you’re an adult and frankly you might be my age or older.

[TuVu]

FLU, thanks. He’s a pretty smart guy. All of the stuff is in a trust. I know, however, that we are gonna have problems upon his demise. He’s a child of the Depression (vet and all that) and picked up most of those properties in the mid 1960s for a song, and the La Jolla ones were “distressed.” Big real estate bull (except for now). Man, I hated him as a teen, but I appreciate his advice now.

[TuVu]

FLU, thanks. He’s a pretty smart guy. All of the stuff is in a trust. I know, however, that we are gonna have problems upon his demise. He’s a child of the Depression (vet and all that) and picked up most of those properties in the mid 1960s for a song, and the La Jolla ones were “distressed.” Big real estate bull (except for now). Man, I hated him as a teen, but I appreciate his advice now.

[TuVu]

FLU, thanks. He’s a pretty smart guy. All of the stuff is in a trust. I know, however, that we are gonna have problems upon his demise. He’s a child of the Depression (vet and all that) and picked up most of those properties in the mid 1960s for a song, and the La Jolla ones were “distressed.” Big real estate bull (except for now). Man, I hated him as a teen, but I appreciate his advice now.

[TuVu]

FLU, thanks. He’s a pretty smart guy. All of the stuff is in a trust. I know, however, that we are gonna have problems upon his demise. He’s a child of the Depression (vet and all that) and picked up most of those properties in the mid 1960s for a song, and the La Jolla ones were “distressed.” Big real estate bull (except for now). Man, I hated him as a teen, but I appreciate his advice now.

[Author]

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