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Old 10-01-2023, 11:10 AM
 
Location: LA County
612 posts, read 353,527 times
Reputation: 642

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Quote:
Originally Posted by blameyourself View Post
Please just stop.
If your house is taxed at $200k instead of $1.5 million due to prop 13, new construction will reappraised it at $1.5 plus the value of additions.

In other states it's already taxed at $1.5 million so the new tax is just the additions

 
Old 10-01-2023, 11:12 AM
 
Location: Austin Metroplex, SF Bay Area
3,429 posts, read 1,567,869 times
Reputation: 3303
Quote:
Originally Posted by Thekdog View Post
If your house is taxed at $200k instead of $1.5 million due to prop 13, new construction will reappraised it at $1.5 plus the value of additions.

In other states it's already taxed at $1.5 million so the new tax is just the additions
No, it will not. Again, the part that reappraised is the new construction. You are again spewing misinformation.

Upon completion, the entire portion of the property which is newly constructed is reappraised at its fair market value and a base year value is established.
 
Old 10-03-2023, 01:35 PM
 
1,203 posts, read 669,160 times
Reputation: 1596
Quote:
Originally Posted by Thekdog View Post
If your house is taxed at $200k instead of $1.5 million due to prop 13, new construction will reappraised it at $1.5 plus the value of additions.

In other states it's already taxed at $1.5 million so the new tax is just the additions
That's definitely false. My house is currently has a tax basis of $1.4M. Market value is somewhere between $1.8-$2.0M. I'm going to build an addition that is going to cost $300K. My new tax basis for the house will be $1.7M not $2.3M.
 
Old 10-03-2023, 03:01 PM
 
Location: LA County
612 posts, read 353,527 times
Reputation: 642
Quote:
Originally Posted by bad debt View Post
That's definitely false. My house is currently has a tax basis of $1.4M. Market value is somewhere between $1.8-$2.0M. I'm going to build an addition that is going to cost $300K. My new tax basis for the house will be $1.7M not $2.3M.
The new part is at market value. For it to go to $2 3m would require a complete teardown
 
Old 10-03-2023, 03:22 PM
 
Location: So Ca
26,747 posts, read 26,841,237 times
Reputation: 24800
Quote:
Originally Posted by Thekdog View Post
The new part is at market value. For it to go to $2 3m would require a complete teardown
The topic is "The Great California Exodus." Please stop derailing the thread.
 
Old 10-03-2023, 03:23 PM
 
Location: So Ca
26,747 posts, read 26,841,237 times
Reputation: 24800
A statewide poll found 70% of respondents expressed high levels of happiness with living in California and applaud the state for its diversity. But 4 in 10 Californians are considering moving out of state, with the majority saying it’s too expensive to live there.

https://www.usatoday.com/story/news/...e/70363036007/
 
Old 10-03-2023, 03:25 PM
 
Location: in a galaxy far far away
19,222 posts, read 16,714,281 times
Reputation: 33352
Quote:
Originally Posted by CA4Now View Post
The topic is "The Great California Exodus." Please stop derailing the thread.
Thank you for reminding me. I'd forgotten. It's been off the rails for a while now.
 
Old 10-03-2023, 03:27 PM
 
Location: LA County
612 posts, read 353,527 times
Reputation: 642
Quote:
Originally Posted by CA4Now View Post
A statewide poll found 70% of respondents expressed high levels of happiness with living in California and applaud the state for its diversity. But 4 in 10 Californians are considering moving out of state, with the majority saying it’s too expensive to live there.

https://www.usatoday.com/story/news/...e/70363036007/

At the end of the day, it comes down to money. It's probably cheaper to live in another state and vacation here for a few weeks per year.
 
Old 10-03-2023, 08:46 PM
 
Location: Silicon Valley
7,651 posts, read 4,608,655 times
Reputation: 12723
In my newer part of San Jose, substantially everyone moved here from somewhere else. Many from another country, some from another State. Many for the money. I feel bad for the natives. They've been overwhelmed in every conceivable way. Yet now that the kids have grown, I'm expecting things to moderate a bit...maybe a lot. The salad bowl will melt a bit more. More community traditions pop up and imported ones will be more shared. The workplace is still hella competitive, but maybe even that will change a bit. Families are more settled. I'm optimistic on my little corner of the woods.
 
Old 10-03-2023, 09:46 PM
 
Location: Rust'n in Tustin
3,274 posts, read 3,937,766 times
Reputation: 7069
Quote:
Originally Posted by CA4Now View Post
A statewide poll found 70% of respondents expressed high levels of happiness with living in California and applaud the state for its diversity. But 4 in 10 Californians are considering moving out of state, with the majority saying it’s too expensive to live there.

https://www.usatoday.com/story/news/...e/70363036007/
I applaud the homeless, the taxes, the traffic, the high price of gas, the high price of food, the smash and grabs...
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