President Trump
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NEW -> Contingent Buyer Assistance Program
The thing that SUPER irritated me was property taxes. On what planet does the government need 40-60K on a cookie cutter lot every single year? (selling your house is going to reset that level for the new buyer). Move to another area with new homes and taxes are MUCH lower and they are putting in streets, parks, lights etc too so how in hell does the government "need" what they get from higher priced homes? It's not like you don't pay income tax like some states, sales tax like other states, low vehicle or gas taxes. It's just never enough. The only thing u don't get taxed on is groceries.
Our property taxes are not going up again next year (they might be going down a little like they did this year). Everyone who gets money from property taxes submits their budget. Every property is reassessed each year (and it does go up). The amount of money needed is calculated and a percent of the property value is assigned. This includes building more roads, lights, parks etc, pay raises, hiring more staff and still the property taxes do not go up (because there is a higher number of properties paying taxes each year due to building new homes). But in California, taxes go up 2% from a significant base just because they can. The site is down so I can't check the exact amount but I'm pretty sure we pay about $2500 per year and our income tax is 2.5%. There are pages of tax credits we can donate to which come straight off state income tax so every year we donate the max to United Food Bank (this year it will be somewhere around $1000 credit not deduction) and local schools. There are a ton more we can also donate too. This state is not unique. HOW on God's green earth other states are able to "make due" while California absolutely soaks people half to death? There is only so much the weather is worth and if California could they would tax the amount of sunshine per day.
Ready2Downsize
Well-known member
But there are stock options too. There has to be high income people to be able to qualify for higher priced homes even if they move equity from previous houses because the property taxes will be a major expense due to the high base (and add in mello if it's still applicable). We bought and sold 6 houses in the OC thru the years and every sale was to Asians and they all had mortgages but they also had businesses and other properties. My last Irvine home had majority Caucasian original owners on our street (business owners, lawyers, doctors mostly) and now it is 100% Asian. Even the Tustin Legacy street I lived on was majority Caucasian and when we left every sale went to Asians. Everyday ordinary income type buyers just can't afford Irvine or even central OC any more. I'm not against Asians, all of my good friends in high school were Asian (mostly Japanese) but the makeup of the area has changed and the 85K buyers (even dual income) isn't going to cut it anymore.
Ready2Downsize
Well-known member
We never made that kind of salary, for one thing I retired when I was 42. I did have an etsy shop for a while but it was just a hobby type thing, so only one salary but pretty significant stock trade income but it still irritates me to no end to hear the "rich" need to pay their fair share because imo they pay way more than their fair share and to hear it from people who don't even pay any federal tax makes me even more mad.We paid about 120k in just state income tax. Then we paid almost 20k in property taxes. The registration for 2 cars was about 1,400-1,500. Then we pay substantially more in federal income taxes. So we pay a lot of taxes. That’s why initially I was happy because I thought i would save $11,100
The only way to not pay the California taxes would be to move to another state. Not willing to do that at this point. But in my view we pay more than our fair share so I do get annoyed when I hear about democrats trying to raise taxes, or removing the cap on social security wage base. We would have a pretty big tax hit if they ever removed the cap for SS. I’m just keeping my fingers crossed that it happens after we retire
The thing that SUPER irritated me was property taxes. On what planet does the government need 40-60K on a cookie cutter lot every single year? (selling your house is going to reset that level for the new buyer). Move to another area with new homes and taxes are MUCH lower and they are putting in streets, parks, lights etc too so how in hell does the government "need" what they get from higher priced homes? It's not like you don't pay income tax like some states, sales tax like other states, low vehicle or gas taxes. It's just never enough. The only thing u don't get taxed on is groceries.
Our property taxes are not going up again next year (they might be going down a little like they did this year). Everyone who gets money from property taxes submits their budget. Every property is reassessed each year (and it does go up). The amount of money needed is calculated and a percent of the property value is assigned. This includes building more roads, lights, parks etc, pay raises, hiring more staff and still the property taxes do not go up (because there is a higher number of properties paying taxes each year due to building new homes). But in California, taxes go up 2% from a significant base just because they can. The site is down so I can't check the exact amount but I'm pretty sure we pay about $2500 per year and our income tax is 2.5%. There are pages of tax credits we can donate to which come straight off state income tax so every year we donate the max to United Food Bank (this year it will be somewhere around $1000 credit not deduction) and local schools. There are a ton more we can also donate too. This state is not unique. HOW on God's green earth other states are able to "make due" while California absolutely soaks people half to death? There is only so much the weather is worth and if California could they would tax the amount of sunshine per day.