Would You Like To Know How Much A Bond Issue On The Ballot Is Going To Raise The Average Property Tax Before You Vote On It?
Spring 2017 C.A.R. BOD Meetings in Sacramento
Taxation and Government Finance
By C.A.R. Director Sandi Adelson
Would you like to know how much a bond issue on the ballot is going to raise the average property tax before you vote on it?
C.A.R. is supporting a bill that would do just that. AB 1194 would require the ballot itself contain the estimate so that when you and your clients are voting on the bond the estimated average cost of that initiative is right in front of you so you can make a more informed decision.
Would you like to show your clients how to reduce their property taxes even if values are increasing?
Did you know that currently some property owners may qualify for property tax exemptions… disabled vets and their surviving spouses, seniors, etc. and are taking them? The problem is that it’s not something that the tax assessors and collectors highlight. As a matter of fact, it can be next to impossible to find out if your parcel qualifies for one (1) or more of these exemptions. C.A.R. has voted to “SPONSOR” a bill that would require tax collectors provide information on their websites regarding available exemptions AND that the tax bill contain the address of the website. (By the way, you can currently try to get this information, but it takes time and patience and there are no guarantees that you will ever contact the right department or person.)
What if your property tax base could be transferred to your new property regardless of your age, the location of the new home, the price of the new home vs the selling price of your existing home, or whether you’ve done it before?
C.A.R. has had a work group looking at the potential changes that could be made to expand Props 60 and 90. Currently you have to be over 55, you can only transfer once, the new home must be equal to or less than the selling price of your existing home (with adjustments for time), and the new home must be in San Diego County or one (1) of the other eleven (11) counties that have opted into Prop 90’s intercounty transfer ability.
Florida has a tax model that allows “free” property tax base transfer with some qualifications, such as for primary residences only. It was approved that C.A.R. forward to the Secretary of State three (3) potential proposals for preparation of title and summary… the first step to a ballot initiative on a constitutional amendment.