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Started By
Message
1
Posted on 7/6/19 at 9:16 am to AggieHank86
quote:
I was among the people who are perfectly well understood the nature of the issue. Which is why my response inquired into the details of the change in the tax portion of the escrow payment.
Yeah - that seems like a lot....a whole LOT......Cali is supposedly running a budget surplus right now and has for a couple of years. My SIL lives in that area (Thousand Oaks). They just bought a new house. Stupid expensive for what it is but haven't heard any complaints about new taxes.
Edit - Might have more to do with insurance or services. That whole area was decimated by the Woolsley fire
This post was edited on 7/6/19 at 9:19 am
Posted on 7/6/19 at 9:27 am to Golfer
quote:California property taxes are 0.79%
Everyone with a brain understood that the OP’s daughter saw an increase in their escrow payment to cover the additional taxes levied.
Posted on 7/6/19 at 9:28 am to Jack Prenderville
quote:Apparently they are capped at a 2% increase per year.
Thought property taxes were capped in California and only change when the home is sold?
Posted on 7/6/19 at 10:07 am to mmcgrath
quote:
California property taxes are 0.79%
That’s the average. Good job.
Posted on 7/6/19 at 10:11 am to 14&Counting
quote:I had forgotten about the fires, and they certainly also present another reasonable explanation for all or part of the increase.
Might have more to do with insurance or services. That whole area was decimated by the Woolsley fire
None of the thundering herd willing knowledge that possibility. Every bad thing in the world is not only political, but also the fault of the other side.
This post was edited on 7/6/19 at 10:13 am
Posted on 7/6/19 at 10:17 am to cwill
I would guess the appraised value. Payment increased $480. mo.
Posted on 7/6/19 at 10:19 am to Rebel
(no message)
This post was edited on 1/9/21 at 12:49 pm
Posted on 7/6/19 at 10:23 am to AggieHank86
If they just went up, it probably partially a state issue. Fiscal year runs to end of June.
California takes around 12% of the average person’s income through state and local taxes.
California takes around 12% of the average person’s income through state and local taxes.
Posted on 7/6/19 at 10:25 am to jimdog
Ok. I can't half hear. The payment is now $3800 (roughly) a month, not 4800. Still outrageous and the increase was taxation per my daughter but it might be connected to the fires, etc. In any event they are getting the hell out of there so they can live normally and save for buying a farm and raising cows some place in the mid to upper south.
This post was edited on 7/6/19 at 10:43 am
Posted on 7/6/19 at 10:41 am to jimdog
quote:$3800 per month on a 15 year $650k mortgage plus escrow? That's not bad at all???
Ok. I can't half hear. The payment is now $3800 (roughly) a month, not 4800. Still outrageous and the increase was taxation.
I bet you are getting several facts screwed up.
Posted on 7/6/19 at 10:48 am to jimdog
That is still crazy high! Posted on 7/6/19 at 10:56 am to mmcgrath
It's $3800 a month on a 1500 sq ft place that has parts of 3 Mexican families living next door. Renting. Move your liberal arse out there and report back on how you like it. Weather is nice. She walks to shopping if she wants but the costs are crazy. And actually the people are nice. But the costs are beyond ridiculous. I consult for a friend who rents a house in LA. About 4K sq ft. Nice place with a pool. He pays $16K a month rent. Now he lives on a 120 acre ranch with a huge barn and a 30 acre lake across the road from the river outside Sacramento. And he paid $2M which is actually not bad. But you move anywhere around the bay, or all the way to S.D. and it is beyond crazy and getting worse by the day.
Posted on 7/6/19 at 11:01 am to jimdog
quote:
They live between Santa Barbara and L.A. in a decent sized town where husband is in the Military. He has requested and been awarded a transfer for several reasons. Not the least of which is they can't save money and live in the People's Republic of California. They earn over $140K yr between the two and both were comfortable saving 10% month but no more. They have one child and live in a modest 1500 square foot home that would be $140K in Georgia but cost them $650K in Camarillo, Ca. a couple of years ago. The mortgage payment on their shack is close to $4800 a month on a 15 year mtg I believe. But it may be longer. Scary! Thank you Democrats.
Actually housing has become quite affordable in CA, you just can't be too picky,
Posted on 7/6/19 at 11:02 am to jimdog
Based on your math, after paying federal, state and local California taxes they have left over about $1500 a month to pay for auto, fuel, insurance, home insurance, clothes, food, personal healthcare insurance, life insurance, childcare, education expenses, utilities, phone service, upkeep and maintenance.
Not saying you're wrong, but I just don't see the math working out.
Not saying you're wrong, but I just don't see the math working out.
Posted on 7/6/19 at 11:04 am to jimdog
I can't imagine why people continue to live there but I'm glad they do. We need to keep the Californians contained least infect the rest of America.
Posted on 7/6/19 at 11:06 am to jimdog
quote:Mexicans! Next door!
It's $3800 a month on a 1500 sq ft place that has parts of 3 Mexican families living next door.
quote:They chose to live there. Probably to get the jobs they have. Sounds like they are enjoying it, and they are building a nice nest egg. Your daughter might need it to take care of you in your old age.
Move your liberal arse out there and report back on how you like it. Weather is nice. She walks to shopping if she wants but the costs are crazy. And actually the people are nice. But the costs are beyond ridiculous.
This post was edited on 7/6/19 at 11:08 am
Posted on 7/6/19 at 11:06 am to ShortyRob
quote:
quote:
What tax law increased their mtg payment
Are you just being obtuse?
Asking a question of the OP said the mtg went up due to tax increases...I’m simply asking what tax increased the mtg.
Posted on 7/6/19 at 11:08 am to jimdog
quote:
I would guess the appraised value. Payment increased $480. mo.
So the appraised value of the property increased so they have to pay more prop tax? That’s not a tax increase per se, that’s an appraisal issue - the value of their home increased but the prop tax % stayed the same. Everyone has to deal with that yearly in TX, too.
This post was edited on 7/6/19 at 11:10 am
Posted on 7/6/19 at 11:23 am to Boatshoes
quote:
Within ten years, blue states are going to be agitating for "transfer payments" from successful ones to balance their budgets.
That day is here.
quote:
The mansion tax is a 2.25 percent conveyance fee on homes sales above $2.5 million. The tax, however, only applies if the seller is moving out of state. Those who move to another residence within the state would get the money back a few years after the sale, in the form of an income tax credit.
LINK
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