New California Republic

[dasva]

Yeah even the more rural areas that were a huge nope on Obama and didn't like Clinton were like well might as well not vote in 2016 lol

[archibaldcrane]

Actually S. Cal wouldn't even be true swing - Hillary would've gotten 51.57% of the vote there - that's about what she got in Washington (52.54%) or Oregon (50.07%) - if you think Washington or Oregon are swing states, then so is S. Cal.

It's pretty fucking blue.

OG Cali would be the bluest state in the nation (moreso than Hawaii, not D.C. blue though obviously). N. Cal would probably not be far behind. Nobody lives in those inland red counties for the most part.

[Ksandra]

Listen, all I wanna know is if my taxes will go up even more if this happens.

[Gredival]

I'm all for this; it's a +2-3 net Democratic Senators and I'm pretty sure when the dust settles it's also good in the House. The Bay area and LA definitely carry anything lumped with them to blue. The rich Republicans in San Diego team up with Alabama in Central Cal and can run themselves into the ground.

[synistar]

I do wonder what would happen to Proposition 13. Potential land mine of rapidly increasing property taxes if a lot of laws get wiped out in the carnage.

[archibaldcrane]

I do wonder what would happen to Proposition 13. Potential land mine of rapidly increasing property taxes if a lot of laws get wiped out in the carnage.

So you're saying that it would be extremely good.

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[synistar]

For new home buyers like me? Yea probably. For existing homeowners, they get fucked.

[Ksandra]

Yea probably. For existing homeowners, they get fucked.

Well then fuck this shit.

[archibaldcrane]

If you snapped all property to its 2018 assessed value, you wouldn't have to set the property tax rate as high as it is now (because the taxable base would be so much larger).

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[synistar]

I look at what's happening in Las Vegas NV as my baseline. Reports from home owners that their property tax went up ~35% year over year since their home values went up. CA doesn't have that issue since prop 13 bases the value whenever last appraised and limits increases to inflation rate +2%(max).

So good for me since the older folks who are holding on to their property won't be able to afford the increases on their fixed income. Allows people in starters to move into those. Then opens up more starter homes.

Though the reality is that those starter homes are going to be bought up and rented out so I'll still be screwed.

[Ksandra]

CA doesn't have that issue since prop 13 bases the value whenever last appraised and limits increases to inflation rate +2%(max).

Wait, what? Am I missing something? My property taxes just went up $1600. That's not even close to 2%.

[synistar]

Wait, what? Am I missing something? My property taxes just went up $1600. That's not even close to 2%.

Your area may have bonds or other tax obligations like parcel taxes for parks, schools, infrastructure, etc. that may have kicked in.

The more broad point when excluding those other levies is that CA property tax will usually never exceed inflation + 2%. I think when I was reviewing my late-mom's bank account I noticed that the property tax year-over-year went up something small like $100-$200. So around 3-4% increase.

And this is why I learned to vote NO on those bond measures.

[archibaldcrane]

Wait, what? Am I missing something? My property taxes just went up $1600. That's not even close to 2%.

That seems wrong. Your property tax alone increased more than $100/mo vs last year?

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[Ksandra]

That seems wrong. Your property tax alone increased more than $100/mo vs last year?

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Yep. My escrow went up $300 a month because they under estimated by $1800 so now I owe both the previous year and they are estimating for the new amount. I checked with the county assessor website to verify. It’s accurate.

[Ksandra]

I tried looking up info on that prop. I guess the 2% doesn’t apply to new home buyers at first because they are allowed to reasses the value. We are two years in so maybe that doesn’t happen the first year of purchase? I’m curious because I was terrified this would happen every year and we wouldn’t be able to afford our home.

Home values are going up insanely where I’m at. We purchased our home for $312,500 and the estimated values in various sites are putting it already at $350-380.

[synistar]

You may have been reappraised when you refi. (Basing on the fandom fail posting). So you may have been dinged there.

You're also paying penalties on underpaying the previous year's tax. Does the assessor page say your property is deliquent? Be fortunate if it says it isn't.

[Ksandra]

You may have been reappraised when you refi. (Basing on the fandom fail posting). So you may have been dinged there.

Possibly. As I said I only heard about that prop from this thread, so I'm learning.

You're also paying penalties on underpaying the previous year's tax. Does the assessor page say your property is deliquent? Be fortunate if it says it isn't.

No of course it's not delinquent, nor am I paying penalties. That's not how escrows work, if you pay through escrow, which I do.

The loan company pays it on time, then they charge for the difference. There are no penalties/interests/etc. involved if they (the loan company) underestimates. If they had overestimated, I'd get a check.

[TsingTao]

I tried looking up info on that prop. I guess the 2% doesn’t apply to new home buyers at first because they are allowed to reasses the value. We are two years in so maybe that doesn’t happen the first year of purchase? I’m curious because I was terrified this would happen every year and we wouldn’t be able to afford our home.

Home values are going up insanely where I’m at. We purchased our home for $312,500 and the estimated values in various sites are putting it already at $350-380.

New homes are different. If you build new your first year's taxes (minimum) will be on just the assessed value of a plot of dirt. It takes time to catch up to what you built on that dirt and pay taxes on the actual home you built. Once you take that first big hit your taxes will go up less.

[Ksandra]

New homes are different. If you build new your first year's taxes (minimum) will be on just the assessed value of a plot of dirt. It takes time to catch up to what you built on that dirt and pay taxes on the actual home you built. Once you take that first big hit your taxes will go up less.

My home was built in 1982. But if I’m reading it right, once a home is sold they are allowed to assess its new value, base the taxes on that, then are again locked into 2% per year based off that new value.

[archibaldcrane]

Your escrow company improperly estimating your property taxes and then adjusting is not the same thing as your property taxes actually increasing.

They just fucked up, this has nothing to do with Prop 13.

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