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I just got the form from the county for this for some improvements to my house, so I can answer. Permits for "improvements" are sent on to the county tax assess
by professoretc 5y ago
I just got the form from the county for this for some improvements to my house, so I can answer. Permits for "improvements" are sent on to the county tax assessor, and they send you a form basically asking for the value of the improvement. Note that "maintenance" doesn't count, only "improvements" (and then only specific improvements; e.g., adding solar doesn't count). The value gets added to your Prop 13 value, but does not trigger a complete reassessment. So it's unlikely that any improvement would result in a 10x tax bill increase, unless you've owned the property for a long time (meaning that your Prop. 13 value was significantly less than the real value of the property).
- lazide 5y agoThe property I’m currently renting has an assessed value of $248k. A nearby comparable house just sold for $2m. It’s not unusual around here for that to be the case.
- professoretc 5y agoThat means that your landlord would have to spend $2M on improvements alone in order for their tax bill to 10x.
- lazide 5y agoLooks like you’re right! Ref for those curious [https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=RTC&division=1.&title=&part=0.5.&chapter=3.5.&article=2 https://leginfo.legislature.ca.gov/faces/codes_displayText.x....] Thanks