real estate tax reduction
Who bought real estate at the height of the bubble?
I did *raises hand*.
Didn’t overpay though, at least compared to comps.
Looking forward (strongly) to my San Francisco property tax reduction and revaluation.
Millions of people did, so don’t feel too badly if you were one of them, particularly if you bought early on.
In a bubble, comps don’t mean much, other than that everyone’s house was overvalued. A bubble creates a huge disparity between price and value.
Don’t be too excited about your tax reduction and revaluation. Several years ago, we had a drought here in Florida and water restrictions were imposed. When water usage dropped, the water authority said its revenue had dropped so much that it couldn’t maintain its infrastructure. So it just raised its rates!
Communities have budgets. If the value of your house drops after a bubble, the politicians are likely to raise your tax rate to maintain the tax base. At best, you should look for a small tax decrease.
My wife and I almost sold our house late in the bubble, but before people recognized that we were in a bubble. They were stupid, but not as stupid as we were. My wife had been a realtor and a mortgage broker, but she had never been in a housing bubble before. Fortunately, we bought our house in 1996 and still have plenty of “equity.” Unfortunately, there is no mortgage money and there are no buyers right now, so how much “equity” do we really have?
|
|
Roller coaster ride on property values not over yet. (property tax reductions in San Diego County, California) (Special Report: Commercial Real Estate): An article from: San Diego Business Journal $5.95 This digital document is an article from San Diego Business Journal, published by CBJ, L.P. on May 31, 1993. The length of the article is 1545 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Roller… |
|
|
Reduction of real estate taxes. July 1956 ed (New York. Practising law institute. General practice series) … |
|
|
4,500 very large estates would receive as much in annual tax reductions under Bush plan as 140 million Americans … |
|
|
The Complete Tax Guide for Real Estate Investors $20.26 This guide for first-time and seasoned investors explains tax issues associated with buying and selling real estate and provides readers with tax planning strategies to reduce and eliminate the resulting income tax from the sale of real estate. It expl… |
