patrick.net

BayArea says

I'm questioning whether the young family who just recently bought their house should take the grunt of the property tax bill.

because they chose to do so when they chose to buy the house.

curious you might have some good points but your post is too long to find out.

BayArea says

When it comes to land value, if both parties above have the same amount of land in the same location, the valuation of that land should be identical.

If you bought a home in a given area pre-bubble, and someone else pays 3x as much during bubble years.. Is it true your home is now identical to theirs... what happens when it corrects.

Worse yet what if the Govt increases your property tax bill 3-4x higher during the bubble and obligates itself into higher long term debt and contracts ?

Now what ! You gonna get the money back from being overbilled, ripped off due to a bubble...govt going to renegotiate itself from higher "bubble driven" debt ?

Prop 13 should stay.

Prop 58 should be repealed. There is no reason the basis of the property value should be allowed to transfer from grand parents/parents to children.

I think you meantE-man says

Prop 13 should stay.

Prop 58 should be repealed.

E-man says

Prop 58 should be repealed. There is no reason the basis of the property value should be allowed to transfer from grand parents/parents to children.

what is yours and your families is the same. Its a related party transfer and basis can transfer, as is the case with IRS rules.

OP, Bay Area
Maybe someday someone will begrudge me my Prop 13. It might be your kids who hate me for buying a "house next to nothing" and taking from "young families."





This week I paid my property tax bill. Two parcel taxes for elementary schools, another for the local CCD. A couple mid-2000s bond issues for schools. Plus the 45 percent of the regular property tax that's designated for schools. Then there's that whole Prop-30-something that's on the ballot...for schools and for the children, again. We are all for the children, but we are all struggling.
I bought my house last year. Four fifths of my property tax went to take care of "the future." In the future, I expect the future to take care of me.

I wish I felt better about The Future. The public school a mile down in a poorer neighborhood has an API of 8. That school got Lowellized. The runoff consisting of all those who can't afford Catholic school or lunch went to the school nearest me. That school has an API of 2, a free lunch rate of 70 percent, and spends 30 percent more per year than the 8 API school.


On what The Future owes me shall probably differ. However, let us agree in The Present that it was never to your benefit nor mine to be forced to subsidize people who had children knowing that the those who had them had less hope of paying for their kids than for their 2005 no verification loan. The ones who have been living mortgage-free since 2008.

Both Prop 18 and 58 should be repealed. They are actually stealing and rubling between neighbours. Why anyone have to pay the service for your neighbours?

That there are vultures counting on your death to bring them money is disconcerting.
Make your own way without counting on someone dying.

SFace says

Here is how my neighbor sums up her property tax bill. "Look sunny, I have been paying property tax for 40 consecutive years. I already pay enough." She's right. Home ownership is painful in the beginning but awesome in the end. I have no problem carrying the burden when you are young and strong but get protection when you get old and weak.

I agree with you there. Well said.

033 says

That there are vultures counting on your death to bring them money is disconcerting.

Make your own way without counting on someone dying.

You mean government employees? :)

BayArea says

but collecting from the owners is a more reliable way for the gov to get their annual dough.

:)

E-man says

SFace says

Here is how my neighbor sums up her property tax bill. "Look sunny, I have been paying property tax for 40 consecutive years. I already pay enough." She's right. Home ownership is painful in the beginning but awesome in the end. I have no problem carrying the burden when you are young and strong but get protection when you get old and weak.

I agree with you there. Well said.

Yeah, the old 'I paid taxes at a lower rate, but now that I am old I want more services and you young people owe it to me'.

Gotta love the elderly.

C Boy says

E-man says

SFace says

Here is how my neighbor sums up her property tax bill. "Look sunny, I have been paying property tax for 40 consecutive years. I already pay enough." She's right. Home ownership is painful in the beginning but awesome in the end. I have no problem carrying the burden when you are young and strong but get protection when you get old and weak.

I agree with you there. Well said.

Yeah, the old 'I paid taxes at a lower rate, but now that I am old I want more services and you young people owe it to me'.

Gotta love the elderly.

That's how it is, worse in Europe.

Old folks are basically royalty in Germany. It's a cultural thing.

bob2356 says

Renters do pay property tax. It's part of the rent. Who do you thinks pays it, the tooth fairy?

Rent *may* pay property taxes, but that is not what ultimately determines the rate of rent. Our rent works out to $2000/mo cheaper than a comparable mortgage, part of which would be property taxes.

C Boy says

Yeah, the old 'I paid taxes at a lower rate, but now that I am old I want more services and you young people owe it to me'.
Gotta love the elderly.

And they're laughing all the way to the nursing home, since they vote in large numbers and the youth do not.

How do you think we got socialized medicine...oops...I mean Medicare D under a Republican president?

E-man says

Prop 13 should stay.

Prop 58 should be repealed. There is no reason the basis of the property value should be allowed to transfer from grand parents/parents to children.

That I do agree with. Prop 58 just creates a pyramid scheme. I understand if a spouse would be included, but children... that's just creating an incumbency of wealth.

I have no problem carrying the burden when you are young and strong but get protection when you get old and weak.
SFace, How many bedrooms does her house have -- and how many people are currently living with her?