New California Republic

[Ksandra]

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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No.


My property taxes were $1600 less last year. Not estimated less, actually less. My lender miscalculated by $1800. So if my taxes didn’t go up, I would have owed $200.

[synistar]

Also heck they got back to you really late considering the due dates are in February and September & deliquency dates are in April and November. What the fuck that escrow company sucks if they didn't tell you this sooner. That's the kind of information you would want handily so you can adjust your budgets.

[Ksandra]

Also heck they got back to you really late considering the due dates are in February and September & deliquency dates are in April and November. What the fuck that escrow company sucks if they didn't tell you this sooner. That's the kind of information you would want handily so you can adjust your budgets.

Actually that part was 100% my fault. They sent a letter in March, but I thought it was just the billing statement which they also email me, so I didn’t think to open it. The repayment took effect in June. So when we saw our account have a bill $300 more than normal I opened it up and called them. They told me the tax numbers and I called the county to verify. The lender was accurate. Unless you guys can convince me the county was in error, my hands are tied and I have to assume the amounts are real.

But again, there’s no delinquency or penalties. Just to be clear:

Your lender looks at your previous year’s property tax and estimates what the next year will be and divided by 12. They add that fee to your escrow portion of your mortgage payments and the lender pays the county directly. If they underestimate, they still pay on time and the full amount, then roll in the missing money into your future payments while trying to guess for next year. There’s no interest, penalty, nothing. Over/under estimating is normal...just maybe not that much as what I got.



They do this as a safety measure and so they can invest the money in between. If you have a fha (not me) or pmi (me) then it’s required. It’s also convenient under normal circumstances.

[BaneTheBrawler]

yeah, i've been bitten by the "i thought i knew what that letter was" mistake.





i open all my non-junk mail, now.

[Ksandra]

yeah, i've been bitten by the "i thought i knew what that letter was" mistake.





i open all my non-junk mail, now.

yeah I try to be an adult about it, but often fail. ;_;

[archibaldcrane]

No.


My property taxes were $1600 less last year. Not estimated less, actually less. My lender miscalculated by $1800. So if my taxes didn’t go up, I would have owed $200.

I don't know what to tell you. If your property wasn't reassessed (because of a change of ownership or footprint expansion from an add-on or various other reasons) you should be taxed at 1% of the property's assessed value from when you purchased it (increasing at a maximum of 2% per year). If your taxes increased by more than 2% without a reassessment of the property value, you have legal recourse. Find out why your taxes increased (if they did).

[Ksandra]

Idk dude, I can call again on Monday. They (both lender and assessor) made it all sound regular.

[archibaldcrane]

Idk dude, I can call again on Monday. They (both lender and assessor) made it all sound regular.

How long have you owned the property? Was it consistent for a few years and then it jumped up? Did you just buy it last year and it was only a partial year payment whereas now it is a full year?

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[Ksandra]

How long have you owned the property? Was it consistent for a few years and then it jumped up? Did you just buy it last year and it was only a partial year payment whereas now it is a full year?

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We closed in September of 2016. We did partial last year. Iirc (I can look it up for exact), last year we were responsible for about $400 of the 3k. And yes this is the first year we have had to pay the full tax amount.

[Ksandra]

No wait, I might be remembering that wrong. The $400 might be for 2016 and we paid 2017.... I am not at home right now so don’t have my files on me. I can check on Monday when I’m back home.

[Zealot]

This has been scintillating analysis on the California proposal.

[Ksandra]

Forgot to post this earlier today. Everything was correct. The prop's tax cap will take effect next year as the reassessment took place last year (tax payment was based on last year). The guy told me where to log in online to see my payment history, but that doesn't show the previous owners history. But zillow to the rescue to see the bump. Here's the tax history on my home:




60% you guys. Fucking nuts.


At least now it won't go up more than 2% each year, and lesson learned if we are ever able to buy a bigger home in the future.


Oh, and if anyone was wondering, I asked, they said refi does not let them reset the property taxes. Just purchases.


[edit] I didn't call the lender back, just the county, but l now at least I can "kinda" see why their system put our taxes $200 less since the previous year went down BUT....shitty system that they don't calculate for the reassessment...

[archibaldcrane]

Yeah your escrow company should have obviously planned on the property taxes for the purchase price, pretty ridiculous they didn't right away.

Buying a place in SoCal for under 350k in 2017 is pretty nice though, is it a condo?

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[synistar]

This is why the baby boomers are holding on to their properties until they die in CA. Case and point, dad's property is assessed at $320k back in 2009. Zillow estimates the property at a whopping $927k tho (won't be that high at sale, house is pretty much a house flipper's dream). Lot that is adjacent to the rear of the house was bought last year for $637k and flipped in 4 months for $1.07M.

Now back to the root of this, what chaos would happen to each of the 3 states' budgets if 1) Prop 13 gets axed or 2) Nor Cal and Cal reap the windfall of their elevated property taxes while So Cal with the doldrums of the Central Valley faces potential deficits despite being purple/lean red?

And we haven't even got to how things like Water Rights (Nor Cal controls the Delta, So Cal controls the aqueduct from the Sierras) or port usage. Central Valley would still go through Long Beach? or would they go down to SD? Freight corridors, who would pay for usage since gas taxes in each state would pay for maintenance? Would a truck driver fill up in So Cal with potentially lower gas tax then drive through Cal to get to Long Beach and never fill up in a Cal gas station because the state gas tax is too high?

Tim Darper, the guy who has been spearheading this has pretty much said "Just set it up in [an interstate] compact," for any 3-state issue. Man if it were only that easy.

[Melena]

This is why the baby boomers are holding on to their properties until they die in CA. Case and point, dad's property is assessed at $320k back in 2009. Zillow estimates the property at a whopping $927k tho (won't be that high at sale, house is pretty much a house flipper's dream). Lot that is adjacent to the rear of the house was bought last year for $637k and flipped in 4 months for $1.07M.

Now back to the root of this, what chaos would happen to each of the 3 states' budgets if 1) Prop 13 gets axed or 2) Nor Cal and Cal reap the windfall of their elevated property taxes while So Cal with the doldrums of the Central Valley faces potential deficits despite being purple/lean red?

And we haven't even got to how things like Water Rights (Nor Cal controls the Delta, So Cal controls the aqueduct from the Sierras) or port usage. Central Valley would still go through Long Beach? or would they go down to SD? Freight corridors, who would pay for usage since gas taxes in each state would pay for maintenance? Would a truck driver fill up in So Cal with potentially lower gas tax then drive through Cal to get to Long Beach and never fill up in a Cal gas station because the state gas tax is too high?

Tim Darper, the guy who has been spearheading this has pretty much said "Just set it up in [an interstate] compact," for any 3-state issue. Man if it were only that easy.

Yup, it's also why dad and his wife are moving to Mendecino county. They have a deal that they are ending at the end of the year with Alameda County where if you sell in Alameda County and move to their county, they will keep your tax rate from the house you sold. She bought the house with her then husband for like 200k, sold for 1.25mil, new house property taxes when they move in will be assessed at whatever it was when they sold in Alameda County, so pretty sweet deal for them.

[Ksandra]

Yeah your escrow company should have obviously planned on the property taxes for the purchase price, pretty ridiculous they didn't right away.

Buying a place in SoCal for under 350k in 2017 is pretty nice though, is it a condo?

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It's a 3 bedroom townhouse. It's definitely excellent for the price. But of course, since SCV's prices are so good, people keep moving in, which is what is making the home values go up and up.

I'm thankful that it's a home we could stay in forever if needed. I would have liked to have upgraded to a detached home someday, but I don't think that's going to be feasible. Our house going up is a reflection of all the houses in the area going up, and with this tax increase, say goodbye to paying anything on principle anytime soon.

Now back to the root of this, what chaos would happen to each of the 3 states' budgets if 1) Prop 13 gets axed or 2) Nor Cal and Cal reap the windfall of their elevated property taxes while So Cal with the doldrums of the Central Valley faces potential deficits despite being purple/lean red?

I find this prop interesting, and I don't know how I feel about it. It's exactly as you described, it kind of pigeonholes people into wanting to keep their houses forever. Also to think that the previous owner had been paying taxes on a $170 home when that home was really work $300k~


Of course, the obvious benefit and purpose is that it makes sure your house payments only increases a little each year while you own the home, which is fucking amazing when we live in a time where raises aren't normal and often infrequent.


In reflection, I guess I'm upset such a prop needs to exist, rather than being upset at the prop itself.


If this split would end up getting rid of the prop then it's a hard pass for me. I can't afford the taxes on a home that very may likely reach $600k in value before the bubble bursts. And would this even do anything to encourage the bubble to burst sooner? I kinda doubt it.

And we haven't even got to how things like Water Rights (Nor Cal controls the Delta, So Cal controls the aqueduct from the Sierras) or port usage. Central Valley would still go through Long Beach? or would they go down to SD? Freight corridors, who would pay for usage since gas taxes in each state would pay for maintenance? Would a truck driver fill up in So Cal with potentially lower gas tax then drive through Cal to get to Long Beach and never fill up in a Cal gas station because the state gas tax is too high?

Honestly the only dem benefit I see to all this is extra senate seats. But by doing that you are sacrificing a huge powerhouse economic state, and may even lose some electoral votes. While dealing with the abundance of issues, some of which you described.

I really don't think it's worth it. Unless more evidence is presented that my quality of life will go up by doing this, I'm voting no when this comes up.

[dasva]

Yup, it's also why dad and his wife are moving to Mendocino county.

What part? I hope near the coast because inland is generally the pits and Ukiah is fucking terrible.

[Melena]

What part? I hope near the coast because inland is generally the pits and Ukiah is fucking terrible.

I'm not sure yet. They are still looking, but under the gun as they are ending that program at the end of the calendar year. It's probably going to be closer to Ukiah if I recall as she wants a new home, and I think that's where all the new developments are going up right now.

[dasva]

I'm not sure yet. They are still looking, but under the gun as they are ending that program at the end of the calendar year. It's probably going to be closer to Ukiah if I recall as she wants a new home, and I think that's where all the new developments are going up right now.

Some of the outskirts are ok as what makes it bad is largely the people. Like not too odd to see random weirdos wandering around town or lying on the ground. Well that and the drugs. We do work for the drug task force up there and it's kind of amazing how much they always have lying around.

[Melena]

Some of the outskirts are ok as what makes it bad is largely the people. Like not too odd to see random weirdos wandering around town or lying on the ground. Well that and the drugs. We do work for the drug task force up there and it's kind of amazing how much they always have lying around.

Wow, I'm amazed they let you do that work. Narcotics division for the agency I worked for was so paranoid, that we couldn't physically work on their machines without a deputy watching us. And the only people who could remote in for troubleshooting were the two deputies who handled all the mainframe password issues.