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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Taikun who wrote (21975)1/22/2005 2:27:49 PM
From: Tommaso  Read Replies (2) of 116555
 
Maybe someone who lives there can reply with more authority, but my understanding is that property taxes on homes were pretty much frozen in California for all original owners.

People can certainly be taxed out of their houses. My brother was. He built on what turned into a super-trendy riverfront lot and his tax basis went up about 500%. Unfortunately that happened before all the tax breaks for home sales. He had to pay capital gains taxes that were higher than the constructions costs on his original house.
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