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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (279471)	3/9/2006 10:28:51 PM
From: bentway	Read Replies (2) \| Respond to of 1572507

As someone who's lived in CA and Texas, I can tell you that CA RE taxes are much, much lower than Texas rates. Prop 13 limits their rise year to year more than any other place in the country. In Texas, there is no limit on the amount they can rise at all, and it's got the highest rates in the country. No income tax, but you're taxed and fee'd out the wazoo every which way you turn. A sale is the only thing that will reset the RE tax basis in CA, other than the tiny fraction Prop 13 allows it to rise. In the neighborhood I used to live in in Oceanside, there were kids living in a house inherited from their parents that was EXACTLY like mine, but they paid 1/10 the RE taxes.

To: TimF who wrote (279471)	3/12/2006 4:03:53 PM
From: tejek	Read Replies (1) \| Respond to of 1572507

I didn't say CA residential RE taxes were high, I said CA taxes where high. Also I'm not sure that the CA taxes are really low. The tax rates might be low, but the housing values are high. The home owners might get protection against new assessments but houses do turn over and than I believe they are subject to reassessment. Even if the actual taxes paid for a typical CA house are low compared to other states (and I'm not sure that is true), the typical CA taxpayer pays more taxes than residents in other states. The rates are low.....probably only matched by MASS, but real estate taxes can be high because of the assessment. Plus I think assessors can reassess every three years. However to put that into perspective, the taxes on a $500,000 house are $6250 per year......probably less than what you pay on your townhouse.