Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (353811)	10/8/2007 2:00:28 AM
From: tejek	of 1575181

re: Are you saying that if someone bought a house for $400K and then, because of the depressed market, sold it for $300K, the new owners would pay the same amt. of taxes as the prior owner? I hope not.......that's a significant difference from the CA law......plus I am not sure its even legal. No, when the house is sold it re-calibrates. While you own it it's set up so it can't go down. In CA it can be assessed downward but they only reassess every three years so its not likely to happen. However, it did happen in LA in the early 90s. That's the only time since the law was passed in the '70s.

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