California income taxes
12-27-2019, 09:40 PM
#311
Gets Weekends Off
Joined APC: Nov 2016
Posts: 2,490
I can remember as far back as 2000, Texas residents being allowed to appeal your appraisal and arrange a date to argue your case in front of the tax accessors office. There is quite a few business firms that will argue your case for you, in exchange for a percentage of the savings...point being, there is a process in place and it sounds like you missed it and the local government took full advantage of you. Sorry you got hosed but just trying to point out the system isnt as rouge as what happened to you.
12-28-2019, 03:06 AM
#312
Gets Weekends Off
Joined APC: Mar 2015
Posts: 1,175
I can remember as far back as 2000, Texas residents being allowed to appeal your appraisal and arrange a date to argue your case in front of the tax accessors office. There is quite a few business firms that will argue your case for you, in exchange for a percentage of the savings...point being, there is a process in place and it sounds like you missed it and the local government took full advantage of you. Sorry you got hosed but just trying to point out the system isnt as rouge as what happened to you.
Never heard of anyone having to pay more than their house is worth, that doesn’t sound real.
And taxes don’t go up 40% in a year. There are caps on valuation increases and tax rate increases.
12-28-2019, 05:32 AM
#313
Banned
Joined APC: Dec 2009
Position: Narrow/Left Wide/Right
Posts: 3,655
Happens on every transaction in CA..... sometimes over 100% increase.
12-28-2019, 06:16 AM
#314
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,127
12-28-2019, 07:06 AM
#315
Gets Weekends Off
Joined APC: Mar 2015
Posts: 1,175
He said he paid taxes on a valuation higher than the price he just purchased the house for......which doesn’t make sense in Texas, California, or anywhere for that matter.
12-28-2019, 07:18 AM
#316
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Joined APC: Nov 2013
Position: On the bus,seat 0A
Posts: 3,332
You guys are kinda missing the point here. The tax should be based on the price you paid. Never ever on the price someone else thinks your property is worth. Today. Tomorrow. 20 years from now. Hiring someone to help you keep your money... I know that's how life works but that shouldn't be the acceptable answer.
12-28-2019, 09:05 AM
#317
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,127
There's a balance between your obvious right to leave some stuff for your kids, and a reasonable policy to give future generations a clean slate. That last is important in a meritocracy.
12-28-2019, 09:13 AM
#318
Permanent Reserve
Joined APC: Aug 2007
Posts: 1,682
12-28-2019, 09:30 AM
#319
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Posts: 3,332
The issue I had was with the following statement:
"The tax should be based on the price you paid. Never ever on the price someone else thinks your property is worth. Today. Tomorrow. 20 years from now."
I don't think that should be true.
12-28-2019, 10:19 AM
#320
Permanent Reserve
Joined APC: Aug 2007
Posts: 1,682
I am absolutely no tax expert. I can just see how people would try to get an artificially low sales price for the house just to avoid high property tax for decades (I see your house is listed for $500K, I will pay you $250K for it and throw in another $250K for moving cost.).
The issue I had was with the following statement:
"The tax should be based on the price you paid. Never ever on the price someone else thinks your property is worth. Today. Tomorrow. 20 years from now."
I don't think that should be true.
The issue I had was with the following statement:
"The tax should be based on the price you paid. Never ever on the price someone else thinks your property is worth. Today. Tomorrow. 20 years from now."
I don't think that should be true.
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