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SDEngineer
Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
Earlier than that for the techie/biotechie crowd. It was pretty well known as a Mecca for high tech and biotech before the 90’s. Torrey Pines already had lots of infant biotechs anchored by the Salk Institute, and there was substantial hi tech (though that was more defense oriented in the late 80’s) with employers like SAIC, Titan/Linkabit, NOSC (one of the premier high tech research facilities for the Navy), and so on.
Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
Earlier than that for the techie/biotechie crowd. It was pretty well known as a Mecca for high tech and biotech before the 90’s. Torrey Pines already had lots of infant biotechs anchored by the Salk Institute, and there was substantial hi tech (though that was more defense oriented in the late 80’s) with employers like SAIC, Titan/Linkabit, NOSC (one of the premier high tech research facilities for the Navy), and so on.
Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
Earlier than that for the techie/biotechie crowd. It was pretty well known as a Mecca for high tech and biotech before the 90’s. Torrey Pines already had lots of infant biotechs anchored by the Salk Institute, and there was substantial hi tech (though that was more defense oriented in the late 80’s) with employers like SAIC, Titan/Linkabit, NOSC (one of the premier high tech research facilities for the Navy), and so on.
Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
Earlier than that for the techie/biotechie crowd. It was pretty well known as a Mecca for high tech and biotech before the 90’s. Torrey Pines already had lots of infant biotechs anchored by the Salk Institute, and there was substantial hi tech (though that was more defense oriented in the late 80’s) with employers like SAIC, Titan/Linkabit, NOSC (one of the premier high tech research facilities for the Navy), and so on.
Participant[quote=flu][quote=CA renter]I totally understand what jp is talking about.
Yes, you can pull purchases forward by opening the mortgage market to people who wouldn’t have been able to buy until later in their lives, hisorically-speaking.
I bought in early 1998, and was not competing with other buyers. San Diego was not “unknown” back then. “The rich” have known about San Diego for a long time. La Jolla, Del Mar, Carlsbad (esp. La Costa area), RSF, etc. have been known to the BIG money crowd for many decades.[/quote]
I don’t doubt the rich have known about those areas of exclusivity… I’m more referring to main stream upper middle class (folks that still depend on a W2)….When did the techie/lawyer/biotechie dudes first start cropping up here? Wouldn’t you agree there was definitely an influx of these people starting around 97 onward? Aren’t these upper middle income folks the same people that would happen to be buying in places like CV, Carlsbad?
(These aren’t exactly the folks looking in LJ or RSF or DM I would think)…[/quote]
Earlier than that for the techie/biotechie crowd. It was pretty well known as a Mecca for high tech and biotech before the 90’s. Torrey Pines already had lots of infant biotechs anchored by the Salk Institute, and there was substantial hi tech (though that was more defense oriented in the late 80’s) with employers like SAIC, Titan/Linkabit, NOSC (one of the premier high tech research facilities for the Navy), and so on.
Participant[quote=SanDiegoDave][quote=PKMAN]…after realizing that deducting MR as property tax is illegal.[/quote]
Does anyone know why it’s illegal? It’s property tax. No property? No Mello-Roos tax. Seems pretty straightforward to me.
Have there been court cases where the IRS won, when preventing someone from deducting MR?
We pretty much ruled out any properties with MR during our home search over the last two years.[/quote]
It’s not deductible because, unlike normal property tax (which goes to fund the state), the vast majority of Mello-Roos taxes goes to directly fund neighborhood improvements. Since the property owner directly benefits from the Mello-Roos payments to a much greater degree than someone located, say, 25 miles away would, it’s not considered to be tax deductible as a general fund property tax.
The final word from CA franchise tax board on it:
You cannot deduct Mello-Roos taxes if they are assessed to fund local benefits and improvements that tend to increase the value of your property. Mello-Roos taxes may appear on your annual county property tax bill with other deductible property taxes. That does not mean you can deduct the Mello-Roos taxes. You may only be able to deduct a portion of the total property tax shown on your bill.
Most of the time, you cannot deduct real estate taxes assessed for local benefits and improvements. However, you can deduct them if they are for maintenance, repair, or interest charges related to those benefits. Some examples of local benefits are:
Sidewalks
Streets
Sewer lines
Water mains
Public parking facilities
Other similar improvements
To deduct local benefit taxes, you must be able to show the amount of the taxes that are for maintenance, repair, or interest. If you cannot show what part of the local benefit taxes are for these charges, you cannot deduct the taxes.For more information, you can:
Contact your Mello-Roos District.
Get Internal Revenue Service Publication 17, Your Federal Income Taxes-Individuals, Chapter 24.Participant[quote=SanDiegoDave][quote=PKMAN]…after realizing that deducting MR as property tax is illegal.[/quote]
Does anyone know why it’s illegal? It’s property tax. No property? No Mello-Roos tax. Seems pretty straightforward to me.
Have there been court cases where the IRS won, when preventing someone from deducting MR?
We pretty much ruled out any properties with MR during our home search over the last two years.[/quote]
It’s not deductible because, unlike normal property tax (which goes to fund the state), the vast majority of Mello-Roos taxes goes to directly fund neighborhood improvements. Since the property owner directly benefits from the Mello-Roos payments to a much greater degree than someone located, say, 25 miles away would, it’s not considered to be tax deductible as a general fund property tax.
The final word from CA franchise tax board on it:
You cannot deduct Mello-Roos taxes if they are assessed to fund local benefits and improvements that tend to increase the value of your property. Mello-Roos taxes may appear on your annual county property tax bill with other deductible property taxes. That does not mean you can deduct the Mello-Roos taxes. You may only be able to deduct a portion of the total property tax shown on your bill.
Most of the time, you cannot deduct real estate taxes assessed for local benefits and improvements. However, you can deduct them if they are for maintenance, repair, or interest charges related to those benefits. Some examples of local benefits are:
Sidewalks
Streets
Sewer lines
Water mains
Public parking facilities
Other similar improvements
To deduct local benefit taxes, you must be able to show the amount of the taxes that are for maintenance, repair, or interest. If you cannot show what part of the local benefit taxes are for these charges, you cannot deduct the taxes.For more information, you can:
Contact your Mello-Roos District.
Get Internal Revenue Service Publication 17, Your Federal Income Taxes-Individuals, Chapter 24.Participant[quote=SanDiegoDave][quote=PKMAN]…after realizing that deducting MR as property tax is illegal.[/quote]
Does anyone know why it’s illegal? It’s property tax. No property? No Mello-Roos tax. Seems pretty straightforward to me.
Have there been court cases where the IRS won, when preventing someone from deducting MR?
We pretty much ruled out any properties with MR during our home search over the last two years.[/quote]
It’s not deductible because, unlike normal property tax (which goes to fund the state), the vast majority of Mello-Roos taxes goes to directly fund neighborhood improvements. Since the property owner directly benefits from the Mello-Roos payments to a much greater degree than someone located, say, 25 miles away would, it’s not considered to be tax deductible as a general fund property tax.
The final word from CA franchise tax board on it:
You cannot deduct Mello-Roos taxes if they are assessed to fund local benefits and improvements that tend to increase the value of your property. Mello-Roos taxes may appear on your annual county property tax bill with other deductible property taxes. That does not mean you can deduct the Mello-Roos taxes. You may only be able to deduct a portion of the total property tax shown on your bill.
Most of the time, you cannot deduct real estate taxes assessed for local benefits and improvements. However, you can deduct them if they are for maintenance, repair, or interest charges related to those benefits. Some examples of local benefits are:
Sidewalks
Streets
Sewer lines
Water mains
Public parking facilities
Other similar improvements
To deduct local benefit taxes, you must be able to show the amount of the taxes that are for maintenance, repair, or interest. If you cannot show what part of the local benefit taxes are for these charges, you cannot deduct the taxes.For more information, you can:
Contact your Mello-Roos District.
Get Internal Revenue Service Publication 17, Your Federal Income Taxes-Individuals, Chapter 24.Participant[quote=SanDiegoDave][quote=PKMAN]…after realizing that deducting MR as property tax is illegal.[/quote]
Does anyone know why it’s illegal? It’s property tax. No property? No Mello-Roos tax. Seems pretty straightforward to me.
Have there been court cases where the IRS won, when preventing someone from deducting MR?
We pretty much ruled out any properties with MR during our home search over the last two years.[/quote]
It’s not deductible because, unlike normal property tax (which goes to fund the state), the vast majority of Mello-Roos taxes goes to directly fund neighborhood improvements. Since the property owner directly benefits from the Mello-Roos payments to a much greater degree than someone located, say, 25 miles away would, it’s not considered to be tax deductible as a general fund property tax.
The final word from CA franchise tax board on it:
You cannot deduct Mello-Roos taxes if they are assessed to fund local benefits and improvements that tend to increase the value of your property. Mello-Roos taxes may appear on your annual county property tax bill with other deductible property taxes. That does not mean you can deduct the Mello-Roos taxes. You may only be able to deduct a portion of the total property tax shown on your bill.
Most of the time, you cannot deduct real estate taxes assessed for local benefits and improvements. However, you can deduct them if they are for maintenance, repair, or interest charges related to those benefits. Some examples of local benefits are:
Sidewalks
Streets
Sewer lines
Water mains
Public parking facilities
Other similar improvements
To deduct local benefit taxes, you must be able to show the amount of the taxes that are for maintenance, repair, or interest. If you cannot show what part of the local benefit taxes are for these charges, you cannot deduct the taxes.For more information, you can:
Contact your Mello-Roos District.
Get Internal Revenue Service Publication 17, Your Federal Income Taxes-Individuals, Chapter 24.Participant[quote=SanDiegoDave][quote=PKMAN]…after realizing that deducting MR as property tax is illegal.[/quote]
Does anyone know why it’s illegal? It’s property tax. No property? No Mello-Roos tax. Seems pretty straightforward to me.
Have there been court cases where the IRS won, when preventing someone from deducting MR?
We pretty much ruled out any properties with MR during our home search over the last two years.[/quote]
It’s not deductible because, unlike normal property tax (which goes to fund the state), the vast majority of Mello-Roos taxes goes to directly fund neighborhood improvements. Since the property owner directly benefits from the Mello-Roos payments to a much greater degree than someone located, say, 25 miles away would, it’s not considered to be tax deductible as a general fund property tax.
The final word from CA franchise tax board on it:
You cannot deduct Mello-Roos taxes if they are assessed to fund local benefits and improvements that tend to increase the value of your property. Mello-Roos taxes may appear on your annual county property tax bill with other deductible property taxes. That does not mean you can deduct the Mello-Roos taxes. You may only be able to deduct a portion of the total property tax shown on your bill.
Most of the time, you cannot deduct real estate taxes assessed for local benefits and improvements. However, you can deduct them if they are for maintenance, repair, or interest charges related to those benefits. Some examples of local benefits are:
Sidewalks
Streets
Sewer lines
Water mains
Public parking facilities
Other similar improvements
To deduct local benefit taxes, you must be able to show the amount of the taxes that are for maintenance, repair, or interest. If you cannot show what part of the local benefit taxes are for these charges, you cannot deduct the taxes.For more information, you can:
Contact your Mello-Roos District.
Get Internal Revenue Service Publication 17, Your Federal Income Taxes-Individuals, Chapter 24.Participant[quote=ocrenter]no, the demise of the GOP is definitely not a good thing.
moderates will continue their exit, leaving the party firmly and fully in the Christian Right. The Christian Right GOP will pick Palin for 2012, Obama wins 70% of the popular vote.
Two possibilities after the 2012 landslide:
#1. moderate Republicans regroup and form a new party of the center. GOP stays and linger on as a fringe party.
#2. moderate Republicans retake the party after the complete collapse, re-establishing the two party system. [/quote]
I would agree with this. Though tempermentally I’m firmly in the liberal camp, I also think that a healthy two party system is overall good for the country, and helps check excesses by one side.
However, this is a tempest of their own making. By moving further and further right, the GOP is making the same mistakes the Democrats did a generation earlier. The problem is not in their appeal to their base (after all, where is their base likely to go?), it’s in their appeal to the moderates. By moving further and further right, they alienate the moderates which eventually decide who governs.
I think the GOP have started believing their own kool-aid – their belief that their beliefs are the only ones that make any sense, and therefore that their loss of power is due to not following their ideology rigidly enough. They seem to believe that becoming MORE conservative is the answer, and that will draw people back to them.
Participant[quote=ocrenter]no, the demise of the GOP is definitely not a good thing.
moderates will continue their exit, leaving the party firmly and fully in the Christian Right. The Christian Right GOP will pick Palin for 2012, Obama wins 70% of the popular vote.
Two possibilities after the 2012 landslide:
#1. moderate Republicans regroup and form a new party of the center. GOP stays and linger on as a fringe party.
#2. moderate Republicans retake the party after the complete collapse, re-establishing the two party system. [/quote]
I would agree with this. Though tempermentally I’m firmly in the liberal camp, I also think that a healthy two party system is overall good for the country, and helps check excesses by one side.
However, this is a tempest of their own making. By moving further and further right, the GOP is making the same mistakes the Democrats did a generation earlier. The problem is not in their appeal to their base (after all, where is their base likely to go?), it’s in their appeal to the moderates. By moving further and further right, they alienate the moderates which eventually decide who governs.
I think the GOP have started believing their own kool-aid – their belief that their beliefs are the only ones that make any sense, and therefore that their loss of power is due to not following their ideology rigidly enough. They seem to believe that becoming MORE conservative is the answer, and that will draw people back to them.
Participant[quote=ocrenter]no, the demise of the GOP is definitely not a good thing.
moderates will continue their exit, leaving the party firmly and fully in the Christian Right. The Christian Right GOP will pick Palin for 2012, Obama wins 70% of the popular vote.
Two possibilities after the 2012 landslide:
#1. moderate Republicans regroup and form a new party of the center. GOP stays and linger on as a fringe party.
#2. moderate Republicans retake the party after the complete collapse, re-establishing the two party system. [/quote]
I would agree with this. Though tempermentally I’m firmly in the liberal camp, I also think that a healthy two party system is overall good for the country, and helps check excesses by one side.
However, this is a tempest of their own making. By moving further and further right, the GOP is making the same mistakes the Democrats did a generation earlier. The problem is not in their appeal to their base (after all, where is their base likely to go?), it’s in their appeal to the moderates. By moving further and further right, they alienate the moderates which eventually decide who governs.
I think the GOP have started believing their own kool-aid – their belief that their beliefs are the only ones that make any sense, and therefore that their loss of power is due to not following their ideology rigidly enough. They seem to believe that becoming MORE conservative is the answer, and that will draw people back to them.
Participant[quote=ocrenter]no, the demise of the GOP is definitely not a good thing.
moderates will continue their exit, leaving the party firmly and fully in the Christian Right. The Christian Right GOP will pick Palin for 2012, Obama wins 70% of the popular vote.
Two possibilities after the 2012 landslide:
#1. moderate Republicans regroup and form a new party of the center. GOP stays and linger on as a fringe party.
#2. moderate Republicans retake the party after the complete collapse, re-establishing the two party system. [/quote]
I would agree with this. Though tempermentally I’m firmly in the liberal camp, I also think that a healthy two party system is overall good for the country, and helps check excesses by one side.
However, this is a tempest of their own making. By moving further and further right, the GOP is making the same mistakes the Democrats did a generation earlier. The problem is not in their appeal to their base (after all, where is their base likely to go?), it’s in their appeal to the moderates. By moving further and further right, they alienate the moderates which eventually decide who governs.
I think the GOP have started believing their own kool-aid – their belief that their beliefs are the only ones that make any sense, and therefore that their loss of power is due to not following their ideology rigidly enough. They seem to believe that becoming MORE conservative is the answer, and that will draw people back to them.
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