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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (13601)	9/10/2003 5:21:36 PM
From: deeno	Read Replies (1) \| Respond to of 306849

No I dont have a link. It was in the local papers here for months. Was decided, I would say about a year or so ago. I also beleive your right about the timing. Had his valuation dropped like $100,000 in the mid 90's. then in late ninetys raised it back up over a 2 or 3 year timeframe. He contended that was a violation of prop 13. The courts held that it was some kind of recapture and was not protected by prop 13. Dont no if it was ever appealed, but its been out of the news for quite a while. I beleive the effort was financed by the Jarvis group for prop 13, so maybe they might have more particulars

To: David Jones who wrote (13601)	9/10/2003 6:09:46 PM
From: David Jones	Respond to of 306849

OT: For those of us in Calif. I particularly abhor ab1690 "authored by Mark Leno a S.F demo" it'll open the door to a local income tax, "10% of your state" on top of state and fed. snip> Sacramento is reaching for your wallet! This is a list of some of the tax increase proposals working their way through the California Legislature. Estimates are that if all proposed increases are approved they will result in $28 billion in new taxes. (Source: California State Senate Republican Caucus) Bill # Author Tax Subject Description AB 4 Chan Income Rates Intent to increase tax rates for single $130,000+, joint $260,000+ AB 160 Salinas Sales Local - Soledad Authorizes, by 2/3 popular vote, a 1/2 cent trans. and use tax in city of Soledad AB 427 Longville Sales Local - transportation Removes 20-year sunset on local transportation taxes AB 553 Chavez Sales Concrete - point of sale Point of sale for batch concrete is where it is manufactured AB 602 Koretz Munitions Fee 10-cent fee on munitions purchases, to fund trauma centers AB 694 Levine Sales Vehicles - use tax Expands use tax presumption to include cCA purchaser, subject to reg. within 12 months, used in state 1/2+ time AB 848 Nation Income Vehicles - SUV Imposes a tax equal to federal tax savings due to allowance of expensing of SUVs AB 880 Diaz Tax Temp agency tax Imposes a tax on temp agencies for the privilege of employing temporary workers AB 969 Correa Sales Tourism - local increment Attempts to capture sales tax increment due to tourism development zones AB 998 Lowenthal Fee Fee $3 fee on purchase of every gallon of perchloroethylene, would effect dry cleaners AB 1378 Horton, J. Property State assessed - condemn Auditor would apply against city any tax reduction due to city’s condemnation of state-assessed property AB 1412 Wold Sales Local - various cities Authorized, by 2/3 pop vote, 1/4% or 1/2% taxes in various named cities AB 1500 Diaz Fee Fee - on oil Petroleum Pollution Cleanup and Prevention Act, includes a $1 per barrel fee for all petroleum products refined in CA AB 1546 Simitian Fee Fee - on motor vehicles Authorizes City/County Association of Governments of San Mateo County to impose an annual fee of up to $4 on motor vehicles — for management of traffic congestion and storm water pollution. AB 1690 Leno Income Local - fire agencies Local income tax to fund fire protection financing agencies through property tax shift AB 1699 Assembly ESTM Comm Fee Fee $.05 fee on fluorescent lamps to be paid by retail purchaser AB X 4 Wesson VLF Trigger - clarification Clarifies that VLF trigger is pulled by Director of Finance; defines general fund AB X 16 Goldberg Income Interest - mortgage Reduces mortgage interest deduction cap from $1 million to $500k (joint) ACA 7 Dutra Sales Local - transportation Provides for local sales tax increases specifically for transportation programs by a 55% majority vote ACA 9 Levine Property Vote req - majority Majority vote for local special taxes ACA 11 Levine Property Bonds - infrastructure Majority vote for local infrastructure bonds, override of Prop. 13 1% tax rate SB 17 Escutia Property Assessment - commercial Rebuttable presumption that commercial property changes ownership every 3 years; other changes SB 103 Alpert Sales Internet - nexus Establishes nexus for certain out-of-state retailers for collection of use tax; intent to adopt SSUTA provisions SB 108 Romero Fee Fee - on alcohol Adds a 5-cent fee to alcohol for EDs and trauma centers SB 204 Perata Fee Fee - on diapers Imposes $.0025 fee on purchase of disposable diapers — called a diversion and recycling fee SB 231 Murray Fee Fee Creates a genetic screening committee and authorizes the director of DHS to collect an additional $.25 SB 334 Romero Fee Fee - San Gabriel San Gabriel Basin Water Quality Authority Fee Increase. This actually decreases a fee from $13 to $10. However, it extends a repeal date from July 1, 2005 to July 1, 2010. Therefore, the “lower” fee is extended by five years. This sounds like a fee increase. SB 400 Florez Sales Services - specialized Imposes sales tax on “specialized services” SB 402 Florez Sales Local - Coalinga - Huron 1/4% or 1/2% tax, by 2/3 vote, for Coalinga-Huron rec & park district SB 516 Speier Income Subchapter S - $20 mil Prevents Subchapter S status for businesses with gross receipts of $20 million or more SB 533 Romero Fee Pesticide mil Increases pesticide mill assessment SB 557 Kuehl Fee Fee on lumber Imposes a fee of $.01 per board foot on all lumber and wood products SB 565 Florez Fee Fee - cottonseed Raises the assessment for cottonseed delineated from the current $4 per bale to the proposed $6 per bale SB 566 Scott Sales Local - Los Angeles Authorizes additional county-wide rate for additional 1/2% rate in Los Angeles County SB 700 Florez Fee Fee - stationary source Imposes stationary source air pollution regulation and related fees, including permit fees, on agricultural operations and equipment SB 819 Alarcon Income Executive compensation Disallows exec comp to extent it exceeds lesser of $1,000,000 or 100 times amount paid to least-paid employee SB 849 Torlakson VLF Vehicles - rentals Allows rental companies to collect from renters VLF increase above 1/1/03 amount SB 916 Perata Toll Bridge tolls Increases the base toll on state toll bridges by $1 SB 921 Kuehl Fee Fee - health insurance Intent language. Will be amended to include a “pay or play” provision. Employers will have to provide health insurance or pay into a government pool to cover the uninsured. SB 981 Soto Fee Fee - oil Enacts a $.30 per barrel fee on oil refineries SB X 3 Escutia Property Assessment - commercial Rebuttable presumption that commercial property changes ownership every 3 years; other changes SB X 5 Romero Alcohol Fee - alcohol Adds a 5-cent fee to alcohol for EDs and trauma centers SCA 2 Torlakson Sales Local - transportation Majority vote for local trans & use taxes for transportation purposes

To: David Jones who wrote (13601)	9/10/2003 9:11:47 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Regarding home assessments lowered: I don't know if there was a court case, although I assume there might have been. I can tell you my business partner had the property tax assessment on his apartment buildings and home lowered $3.6 million (about 50%) back in 1996. His current assessment under Prop 13 for these properties is over $8 million just like the lowered assessment never happened. He would have obtained a lower permanent basis only by selling the properties in 1996 and buying similar properties at that time. At the time he told me he had good news and bad news. He said the good news was he got his taxes cut in half at the assessor's hearing - I told him I knew what the bad news was. Of course now he's getting his asset value reduced by 50% again by going through a divorce.