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  #16  
Old 09-21-2006, 04:27 AM
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Join Date: Jul 2004
Location: Ridgecrest, CA
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I think one of the very few things that Cali does right is the property tax law. Proposition 13 limits your yearly property tax to 1% of the purchase price of your home. It stays static. Of course, our lovely Democratic legislature hates it with a frothy passion. There are always attempts to make it go away.

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  #17  
Old 09-21-2006, 12:40 PM
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Quote:
Originally Posted by peragro View Post
I think one of the very few things that Cali does right is the property tax law. Proposition 13 limits your yearly property tax to 1% of the purchase price of your home. It stays static. Of course, our lovely Democratic legislature hates it with a frothy passion. There are always attempts to make it go away.
I don't know if Proposition 13, in 1978, limited property taxes to 1% of the purchase price (plus assessments).

I do know for a fact that Propostion 13 limited the annual increase to no more than 2%.
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2001 E430, Bourdeaux Red, Oyster interior.
79,200 miles.

1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron".
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  #18  
Old 09-21-2006, 01:32 PM
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Our property tax bill started around 1% when we bought our house in 99 and it's gone up annually. The increase is closer to 10% a year.

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  #19  
Old 09-21-2006, 02:01 PM
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No, it is capped at 2% increase per year, but the increase compounds (like compounding interest), so when you go back and calculate your average increase / year, it will be higher than 2%.
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2001 E430, Bourdeaux Red, Oyster interior.
79,200 miles.

1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron".
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  #20  
Old 09-21-2006, 03:57 PM
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Join Date: Jul 2004
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Suffice to say that it doesn't go up nearly as much as the Legislature would like it to go up.

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