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January 12, 2011 at 7:00 AM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #652081January 12, 2011 at 7:00 AM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #652670
EconProf
Participantbg: I believe the OP is considering a for-sale house in Austin to a similar house in a similar neighborhood in San Diego. So the issue we are discussing is what taxes would be paid on each. Accordingly, including Prop 13-advantaged CA taxpayers is not relevant to the decision.
As to your Mello Roos fees, yes, they can really become as high as you state, and that further makes the Austin house look better in comparison. Of course, they don’t apply to older houses in older neighborhoods.January 12, 2011 at 7:00 AM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #652806EconProf
Participantbg: I believe the OP is considering a for-sale house in Austin to a similar house in a similar neighborhood in San Diego. So the issue we are discussing is what taxes would be paid on each. Accordingly, including Prop 13-advantaged CA taxpayers is not relevant to the decision.
As to your Mello Roos fees, yes, they can really become as high as you state, and that further makes the Austin house look better in comparison. Of course, they don’t apply to older houses in older neighborhoods.January 12, 2011 at 7:00 AM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #653135EconProf
Participantbg: I believe the OP is considering a for-sale house in Austin to a similar house in a similar neighborhood in San Diego. So the issue we are discussing is what taxes would be paid on each. Accordingly, including Prop 13-advantaged CA taxpayers is not relevant to the decision.
As to your Mello Roos fees, yes, they can really become as high as you state, and that further makes the Austin house look better in comparison. Of course, they don’t apply to older houses in older neighborhoods.EconProf
ParticipantA lease is for a fixed period of time. Period. Unless I am mistaken–and I’d like to hear from an attorney here–the tenant’s only obligation is to stay during the term of the lease. If they stay past the lease expiration, they may be automatically on the hook for another month, depending on the language of the lease. But if they leave before midnight of the last day of the lease, they have no further obligation to the landlord.
RE attorneys here?EconProf
ParticipantA lease is for a fixed period of time. Period. Unless I am mistaken–and I’d like to hear from an attorney here–the tenant’s only obligation is to stay during the term of the lease. If they stay past the lease expiration, they may be automatically on the hook for another month, depending on the language of the lease. But if they leave before midnight of the last day of the lease, they have no further obligation to the landlord.
RE attorneys here?EconProf
ParticipantA lease is for a fixed period of time. Period. Unless I am mistaken–and I’d like to hear from an attorney here–the tenant’s only obligation is to stay during the term of the lease. If they stay past the lease expiration, they may be automatically on the hook for another month, depending on the language of the lease. But if they leave before midnight of the last day of the lease, they have no further obligation to the landlord.
RE attorneys here?EconProf
ParticipantA lease is for a fixed period of time. Period. Unless I am mistaken–and I’d like to hear from an attorney here–the tenant’s only obligation is to stay during the term of the lease. If they stay past the lease expiration, they may be automatically on the hook for another month, depending on the language of the lease. But if they leave before midnight of the last day of the lease, they have no further obligation to the landlord.
RE attorneys here?EconProf
ParticipantA lease is for a fixed period of time. Period. Unless I am mistaken–and I’d like to hear from an attorney here–the tenant’s only obligation is to stay during the term of the lease. If they stay past the lease expiration, they may be automatically on the hook for another month, depending on the language of the lease. But if they leave before midnight of the last day of the lease, they have no further obligation to the landlord.
RE attorneys here?January 11, 2011 at 5:49 PM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #651821EconProf
ParticipantEugene and Bearishgirl: In considering the property taxes on a house in Austin vs. one in San Diego, one should compare the expected taxes one would be paying. Throwing Prop 13-advantaged taxpayers into the mix is a red herring.
A buyer of a CA house will pay 1% of purchase price, plus bonded debt which ranges from .15% to .25%, depending on area. Mello Roos, if applicable is on top of that, and can easily push the total to 1.5% plus.January 11, 2011 at 5:49 PM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #651886EconProf
ParticipantEugene and Bearishgirl: In considering the property taxes on a house in Austin vs. one in San Diego, one should compare the expected taxes one would be paying. Throwing Prop 13-advantaged taxpayers into the mix is a red herring.
A buyer of a CA house will pay 1% of purchase price, plus bonded debt which ranges from .15% to .25%, depending on area. Mello Roos, if applicable is on top of that, and can easily push the total to 1.5% plus.January 11, 2011 at 5:49 PM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #652475EconProf
ParticipantEugene and Bearishgirl: In considering the property taxes on a house in Austin vs. one in San Diego, one should compare the expected taxes one would be paying. Throwing Prop 13-advantaged taxpayers into the mix is a red herring.
A buyer of a CA house will pay 1% of purchase price, plus bonded debt which ranges from .15% to .25%, depending on area. Mello Roos, if applicable is on top of that, and can easily push the total to 1.5% plus.January 11, 2011 at 5:49 PM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #652612EconProf
ParticipantEugene and Bearishgirl: In considering the property taxes on a house in Austin vs. one in San Diego, one should compare the expected taxes one would be paying. Throwing Prop 13-advantaged taxpayers into the mix is a red herring.
A buyer of a CA house will pay 1% of purchase price, plus bonded debt which ranges from .15% to .25%, depending on area. Mello Roos, if applicable is on top of that, and can easily push the total to 1.5% plus.January 11, 2011 at 5:49 PM in reply to: What is the equivalent home in San Diego to this $158k home in Austin? #652940EconProf
ParticipantEugene and Bearishgirl: In considering the property taxes on a house in Austin vs. one in San Diego, one should compare the expected taxes one would be paying. Throwing Prop 13-advantaged taxpayers into the mix is a red herring.
A buyer of a CA house will pay 1% of purchase price, plus bonded debt which ranges from .15% to .25%, depending on area. Mello Roos, if applicable is on top of that, and can easily push the total to 1.5% plus.EconProf
ParticipantRead your lease very carefully. It may say that the lease reverts to month-to-month if neither party gives notice. If nothing is mentioned, then you are entitled to leave at or before the end of the lease with no further obligation. If you are already staying there past the lease expiration, you are by your actions agreeing to stay as a tenant.
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