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Property Pricing in your area - gone up or down?
#6
In CA, we passed Prop 13 in 1978, making property taxes 1% of the sale price, and putting a 2% cap on assessed value (they can only say your property went up 2% each year, even if it goes up 5% or 10% or even more). Which means that even if prices go crazy high, you can still afford your property taxes. I think originally it was to help old people keep their homes (30 years later your taxes could easily be more than your social security check!), but has benefitted many people since then, especially in our crazy market which is constantly going way up and down like a roller coaster.
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Property Pricing in your area - gone up or down? - by dfrecore - 06-12-2016, 11:50 PM

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