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The problem we’re describing is that their property taxes would increase sinificanty, thousands of dollars a month.
by matt_wulfeck 9y ago
The problem we’re describing is that their property taxes would increase sinificanty, thousands of dollars a month.
- whb07 9y agoYes temporarily sure? But if you keep deferring can you really tell me what the tax laws will be 50 years from now? I don't think in 2068 if you finally decide to sell and cash out the IRS will come with a list " Well on 2030: taxes were X%, again on 2035: taxes were Y%". They will just give you a bill for the present day tax system
- SeeDave 9y agoFrom my understanding, the issue is with the annual recurring property taxes which have a capped annual increase per Proposition 13. Thus, the "taxable value" of the homes pre-sale is a fraction of what it is post-sale, even after swapping for an identical home. This is not an IRS issue, so much as a county tax assessor issue.