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314
Misc
2025 Jan 12, 9:36pm
Misc says
From what I've heard...if the house is rebuilt within 2 years, the owner gets to keep the original cost basis. If it is longer than that then it is taxed at present value. With the amount of rebuilding that is gonna happen does anyone think they will be able to rebuild in the 2 year window ???
Just another reason to grab the insurance money and not rebuild.
So, does anyone know if a house is destroyed by fire and gets rebuilt, does it lose its Prop 13 cost basis?
From what I've heard...if the house is rebuilt within 2 years, the owner gets to keep the original cost basis. If it is longer than that then it is taxed at present value. With the amount of rebuilding that is gonna happen does anyone think they will be able to rebuild in the 2 year window ???
Just another reason to grab the insurance money and not rebuild.
316
ForcedTQ
2025 Jan 12, 10:24pm
From one of the most corrupt municipalities in the state of CA if I remember correctly?
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What was Lahaina 2.0?
https://patrick.net/post/1382174/2024-09-30-lahaina-2-0