Property Tax "Total Net Taxable Value" increase this year

aquabliss

aquabliss

Well-known member
So, new property tax bills are out.  I calculated the increase of my "Total Net Taxable Value" found here after entering your address and selecting 2021 as the tax year:https://tax.ocgov.com/tcweb/search_page.asp

My "Total Net Taxable Value" only went up 1.04%, which is great because under Prop 13 it can increase up to 2% annually.  Are you guys seeing the same results?  My home (and all of ours) obviously went up much more than 1.04% this year. 

It doesn't save much, maybe $100-$200 per year but hey, I'll take it and also surprised they did not increase it the full 2%.

*Note - This has nothing to do with the full property tax amount on the property, which is skewed due to different mello roos and increases in different communities, etc.  Just talking about the "Total Net Taxable Value" here.
 
Didn't see an increase in our bill, but for some odd reason there was a -$49.00 refund listed from an RSM area Mello Roos bond. I don't have time to figure out why this is on the bill, but I'll take it none the less.

My .02c
 
Low property tax, low mortgage interest rate, rising rent, rising house price and high inflation really discourage owners to sell if they can just rent the house out for a nice return, hedge against inflation
 
Plus if you take depreciation expense on your investment property, you gotta give it all back if you sell it.
 
1.04% as well

Mello Roos went up the full 2% though.

2.0 on two of them and 2.2 on the third one.
 
This type of low prop tax discourages move up buyers. In my case, I am looking at paying 500$ more per month on prop tax compared to the house that I recently sold. I can bring in more equity, look for lowest interest rate but I cannot avoid the high prop tax as prices for move up homes have sky rocketed!
 
I am paying more this year, .05% increase on the overall tax bill. That equate to 1K more for all of properties that I owned. This will now tack to the rental leases on the next renewal on top of the (COLA) Cost Of Living Adjustment for those familiar with the term back in the day.

 
Hold the phone @CompressedVillage....

You're saying that instead of paying "your fair share" of taxes it's going to be passed along to your consumer AKA renter? That's an absurd idea to some...  ;)

Whoookooodaaknowwn this is how economics works??

Seriously though because I don't own rental properties I did not know in California you can still have a COLA increase without running afoul of The State. 
 
My property tax increased 1.39% but about 1/2% was due to my Mello Roos increasing by $58.  Good thing is that the Mello Roos expires in 3 years.
 
Soylent Green Is People said:
Hold the phone @CompressedVillage....

You're saying that instead of paying "your fair share" of taxes it's going to be passed along to your consumer AKA renter? That's an absurd idea to some...  ;)

Whoookooodaaknowwn this is how economics works??

Seriously though because I don't own rental properties I did not know in California you can still have a COLA increase without running afoul of the State.
Click to expand...

For many millennial, they never had it hard. So soft. The first down turn they?d face would be asking student debt forgiveness, free housing, free childcare, free free free.


I am not asking for free, just pay your fair share.😀
 
Compressed-Village said:
Soylent Green Is People said:
Hold the phone @CompressedVillage....

You're saying that instead of paying "your fair share" of taxes it's going to be passed along to your consumer AKA renter? That's an absurd idea to some...  ;)

Whoookooodaaknowwn this is how economics works??

Seriously though because I don't own rental properties I did not know in California you can still have a COLA increase without running afoul of the State.
Click to expand...

For many millennial, they never had it hard. So soft. The first down turn they?d face would be asking student debt forgiveness, free housing, free childcare, free free free.


I am not asking for free, just pay your fair share.😀
Click to expand...
Having it hard is subjective. I am a millennial myself and I do not agree with forgiving student loans. I paid my 40k of student loans and never regretted it as that debt I took led me to where I am today. However, I do think that the schooling system does need to be fixed. I can tell you right now that as a USC alumni, there is no way their education is worth 60k per year per student. At my time, it was 40-45k a year. It's absurd.

All that money went to the new buildings and campus village that adds no value to ones education. I was paying for that and never even got to use it. But this will be difficult as with this current market, it's difficult to find a "decent" paying job without a university degree. The real culprits of student loans are the universities using this as leverage to justify raising the tuition each and every year. Quality education does not require up to date buildings and useless departments.

With that said, I do not think college should be "free", but I do think that it should be affordable. We all know that education is important and if you are pricing people out of getting an education, that will not be good for society and the next generation.
 
sleepy5136 said:
Compressed-Village said:
Soylent Green Is People said:
Hold the phone @CompressedVillage....

You're saying that instead of paying "your fair share" of taxes it's going to be passed along to your consumer AKA renter? That's an absurd idea to some...  ;)

Whoookooodaaknowwn this is how economics works??

Seriously though because I don't own rental properties I did not know in California you can still have a COLA increase without running afoul of the State.
Click to expand...

For many millennial, they never had it hard. So soft. The first down turn they?d face would be asking student debt forgiveness, free housing, free childcare, free free free.


I am not asking for free, just pay your fair share.😀
Click to expand...
Having it hard is subjective. I am a millennial myself and I do not agree with forgiving student loans. I paid my 40k of student loans and never regretted it as that debt I took led me to where I am today. However, I do think that the schooling system does need to be fixed. I can tell you right now that as a USC alumni, there is no way their education is worth 60k per year per student. At my time, it was 40-45k a year. It's absurd.

All that money went to the new buildings and campus village that adds no value to ones education. I was paying for that and never even got to use it. But this will be difficult as with this current market, it's difficult to find a "decent" paying job without a university degree. The real culprits of student loans are the universities using this as leverage to justify raising the tuition each and every year. Quality education does not require up to date buildings and useless departments.

With that said, I do not think college should be "free", but I do think that it should be affordable. We all know that education is important and if you are pricing people out of getting an education, that will not be good for society and the next generation.
Click to expand...

I guess I got a bargain since I only paid about $70k for my MBA about 15 years ago.  I'm sure it's more than double that today.
 
sleepy5136 said:
Compressed-Village said:
Soylent Green Is People said:
Hold the phone @CompressedVillage....

You're saying that instead of paying "your fair share" of taxes it's going to be passed along to your consumer AKA renter? That's an absurd idea to some...  ;)

Whoookooodaaknowwn this is how economics works??

Seriously though because I don't own rental properties I did not know in California you can still have a COLA increase without running afoul of the State.
Click to expand...

For many millennial, they never had it hard. So soft. The first down turn they?d face would be asking student debt forgiveness, free housing, free childcare, free free free.


I am not asking for free, just pay your fair share.😀
Click to expand...
Having it hard is subjective. I am a millennial myself and I do not agree with forgiving student loans. I paid my 40k of student loans and never regretted it as that debt I took led me to where I am today. However, I do think that the schooling system does need to be fixed. I can tell you right now that as a USC alumni, there is no way their education is worth 60k per year per student. At my time, it was 40-45k a year. It's absurd.

All that money went to the new buildings and campus village that adds no value to ones education. I was paying for that and never even got to use it. But this will be difficult as with this current market, it's difficult to find a "decent" paying job without a university degree. The real culprits of student loans are the universities using this as leverage to justify raising the tuition each and every year. Quality education does not require up to date buildings and useless departments.

With that said, I do not think college should be "free", but I do think that it should be affordable. We all know that education is important and if you are pricing people out of getting an education, that will not be good for society and the next generation.
Click to expand...

It will be more affordable with less government involvements and loans guarantees. The solution is less government. The same government that want to raise my tax but failed to balance the budget is now wanting to raise even more tax. Brilliant solutions.
 
Compressed-Village said:
It will be more affordable with less government involvements and loans guarantees. The solution is less government. The same government that want to raise my tax but failed to balance the budget is now wanting to raise even more tax. Brilliant solutions.
Click to expand...
prices would go down because demand would go down.  that's not the same thing as "more affordable." (actually it would be a direct result of educational financing becoming less affordable, ironically).  education also has societal benefits.  we all benefit when more people are more educated.  (https://en.wikipedia.org/wiki/Neighbourhood_effect)

the idea that the free market would come up with a better education financing market system is fantasy.  it has never happened and never will, because there is no collateral that can be accurately and objectively priced.  private student loans are nothing more than personal lines of credit based on the creditworthiness of the borrower or a cosigner.  the only reason they exist at all is because of government restrictions on bankruptcy protections.

the current federal student loan system, with government guarantees and income-based repayment options, is actually pretty good.  it could be improved with more government controls on price and quality of service.  just ask noted lefty economist milton friedman -- he figured all this out 50 years ago. (https://la.utexas.edu/users/hcleaver/330T/350kPEEFriedmanRoleOfGovttable.pdf). 
 
Compressed-Village said:
sleepy5136 said:
Compressed-Village said:
Soylent Green Is People said:
Hold the phone @CompressedVillage....

You're saying that instead of paying "your fair share" of taxes it's going to be passed along to your consumer AKA renter? That's an absurd idea to some...  ;)

Whoookooodaaknowwn this is how economics works??

Seriously though because I don't own rental properties I did not know in California you can still have a COLA increase without running afoul of the State.
Click to expand...

For many millennial, they never had it hard. So soft. The first down turn they?d face would be asking student debt forgiveness, free housing, free childcare, free free free.


I am not asking for free, just pay your fair share.😀
Click to expand...
Having it hard is subjective. I am a millennial myself and I do not agree with forgiving student loans. I paid my 40k of student loans and never regretted it as that debt I took led me to where I am today. However, I do think that the schooling system does need to be fixed. I can tell you right now that as a USC alumni, there is no way their education is worth 60k per year per student. At my time, it was 40-45k a year. It's absurd.

All that money went to the new buildings and campus village that adds no value to ones education. I was paying for that and never even got to use it. But this will be difficult as with this current market, it's difficult to find a "decent" paying job without a university degree. The real culprits of student loans are the universities using this as leverage to justify raising the tuition each and every year. Quality education does not require up to date buildings and useless departments.

With that said, I do not think college should be "free", but I do think that it should be affordable. We all know that education is important and if you are pricing people out of getting an education, that will not be good for society and the next generation.
Click to expand...

It will be more affordable with less government involvements and loans guarantees. The solution is less government. The same government that want to raise my tax but failed to balance the budget is now wanting to raise even more tax. Brilliant solutions.
Click to expand...
I don't know why you feel there is government involved in a private university. Last time I checked, the government does not have a say in tuition increases for private universities. Last time I checked, there does not need to be approval from the government to build new buildings in a private university.
 
Loans at USC

USC participates in the Direct Loan Program, which offers low-interest, federally backed loans to undergraduate and graduate students. Loans may be based on your financial need (need-based) or on your overall cost of attendance (credit-based).
 
Compressed-Village said:
Loans at USC

USC participates in the Direct Loan Program, which offers low-interest, federally backed loans to undergraduate and graduate students. Loans may be based on your financial need (need-based) or on your overall cost of attendance (credit-based).
Click to expand...
i'm not talking about the loans. I'm talking about decisions that universities especially private ones make with the tuition dollars we pay as students. That does not need federal approval afaik. I could be wrong and if so please correct me. Please also let me know if private universities need federal government approval to raise tuitions every year that exceeds inflation.
 
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