[bimmer456]

I read this article on CNBC
https://www.google.com/amp/s/www.cnb...-now-what.html
For how many of you is this true? Here in CA or at least LA County they cannot raise our assessed value by more than 2% a year no matter how much property values actually rise. Would hate to have to pay 50% more tax and be priced out of my own home. How does it work in your state when values go up?

[NickyC]

Just horrible, property taxes are vile. Proof you never truly own anything if you live in a state unfortunate enough to levy these burdens on you.

Terrible for retired people and of course anyone on a fixed income. To think you could be forced out of a home you've lived in for decades and is paid off due to rising property taxes you cannot afford, is about as disgusting as it can get.

[RickFLM4]

In FL there is a homestead exemption that caps increases at 2% or 2.5% (don't remember). I've been in my house since 2002 and without checking I know my property taxes haven't gone up by more than 20% cumulative over that period (and I think less than that).

If property taxes are really going up 50%-100% in some places it's time to consider moving. That's insane and IMO provides a pretty good reason to cap the federal deduction. People paying high local taxes need to complain locally about how state and local governments are managing their budgets, not get a discount on what we all pay for federal income taxes. I have to pay more for homeowners insurance than most around the country because of hurricane risk. Not deductible at all. Oh well, my choice to live here so too bad for me.

[BayMoWe335]

Originally Posted by bimmer456

I read this article on CNBC
https://www.google.com/amp/s/www.cnb...-now-what.html
For how many of you is this true? Here in CA or at least LA County they cannot raise our assessed value by more than 2% a year no matter how much property values actually rise. Would hate to have to pay 50% more tax and be priced out of my own home. How does it work in your state when values go up?

While it migh be good for your property tax payment, it’s one of the reasons California is always broke.

I pay close to 3% annually. It’s bullshit, but it’s reslity.

[Chihuahua]

Originally Posted by RickFLM4

I've been in my house since 2002 and without checking I know my property taxes haven't gone up by more than 20% cumulative over that period (and I think less than that).

Similar experience here in Pinellas county FL, I've been in this house since 2007 and haven't seen much change in my property taxes over that time. The homestead exemption is a lifesaver.

[RickFLM4]

Originally Posted by Chihuahua

Similar experience here in Pinellas county FL, I've been in this house since 2007 and haven't seen much change in my property taxes over that time. The homestead exemption is a lifesaver.

Yeah by contrast my insurance is supposed to go up by about $1,000 but we'll shop it around. Fucking Irma...

[IK6SPEED]

Originally Posted by Chihuahua

Similar experience here in Pinellas county FL, I've been in this house since 2007 and haven't seen much change in my property taxes over that time. The homestead exemption is a lifesaver.

Location, Location, Location.

[Kolyan2k]

Originally Posted by NickyC

Just horrible, property taxes are vile. Proof you never truly own anything if you live in a state unfortunate enough to levy these burdens on you.

Terrible for retired people and of course anyone on a fixed income. To think you could be forced out of a home you've lived in for decades and is paid off due to rising property taxes you cannot afford, is about as disgusting as it can get.

I am not sure but I think retired low income can get a reduction from city

[kscarrol]

Property taxes for us are levied by the city, not the state. We have a homestead exemption and at 65 your property taxes are frozen as long as you own the property.

[bimmer456]

Originally Posted by kscarrol

Property taxes for us are levied by the city, not the state. We have a homestead exemption and at 65 your property taxes are frozen as long as you own the property.

This should be the case for the whole country so retirees aren't forced out of their homes.

[BMW F22]

Seems like OP has a lot of time on his/her hands so he/she starts a thread on literally every imaginable topic...when I see a new thread I don’t have to open it to know it was probably started by bimmer456...

[bimmer456]

Originally Posted by BMW F22

Seems like OP has a lot of time on his/her hands so he/she starts a thread on literally every imaginable topic...when I see a new thread I donÂ’t have to open it to know it was probably started by bimmer456...

You can see who started it without opening it. Doesn't take long to post things on here and it generates traffic for the site so the moderators and advertisers are happy. I do it as a hobby.