Hormiguero_IHB
New member
I wonder what % of the housing stock in OC will be taxed at a lower value this year?
Of course, prop 13 makes this a little interesting. Too bad declining values don't give you a reestablishment of prop 13 basis. They similarly often very little tax benefit when sold at a loss as a personal residence, as well.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/08/14/BAB112AFOD.DTL&type=realestate
Of course, prop 13 makes this a little interesting. Too bad declining values don't give you a reestablishment of prop 13 basis. They similarly often very little tax benefit when sold at a loss as a personal residence, as well.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/08/14/BAB112AFOD.DTL&type=realestate