Occasionally, when a law is passed not everybody is affected in the way the law intended. This is referred to as The Law of Unintended Consequences. When Proposition 13 passed in California in 1978 several significant and financially beneficial changes to the calculation of property taxes were implemented. However, Read More >
Are You Affected by Mello-Roos Taxes?
Posted on: 05.17.16
Odds are if you don’t pay them you don’t know what they are and if you do pay them you don’t know why. Mello-Roos is a “Special Tax” paid by homeowners who purchase a home in a “Community Facilities District” and is paid in addition to the County property taxes. When Proposition 13 passed in California in 1978, local Read More >
What is the Difference Between the Property Tax Rate and An Effective Property Tax Rate?
Posted on: 05.10.16
As a California homeowner, you are responsible for paying property taxes on each and every property you own, but only during the time that you own each property. The amount of your property taxes, as set forth in Proposition 13, is based on the assessed value of each property. For homeowners who purchased property Read More >
An Anniversary ALL California Homeowners Should Celebrate
Posted on: 05.03.16
On June 6, 1978, nearly two-thirds of California’s voters voted yes and passed Proposition 13, reducing property tax rates on homes, businesses, and farms by about 57%. That was almost 38 years ago and California homeowners still benefit from it today, but I’ll bet only a handful of homeowners realize it and fewer Read More >
“Why” You Want to Get Out of Debt May Influence “How”
Posted on: 03.01.16
For the most part, Americans live in a fast food, shake and bake, society, which is to say that we have come to expect and demand instant gratification for anything we want in life. That’s typically how people accumulate credit card debt; instant gratification coupled with not having an emergency reserve. Instant Read More >
How Are Loan Discount Points Deducted on Your Tax Return When You Refinance Your Mortgage?
Posted on: 02.16.16
Whether obtaining a mortgage to purchase a house or refinance an existing mortgage, it can be very tempting to pay loan discount points in an effort to secure the lowest interest rate possible. While I don’t often advise paying discount points because it is rarely in the client’s best interest, especially in refinance Read More >