3 ms·
You could also do what they do in Texas which is to allow anyone over 65 to defer any increased property tax amount (with interest) until sale or the death of t
by cameldrv 3y ago
You could also do what they do in Texas which is to allow anyone over 65 to defer any increased property tax amount (with interest) until sale or the death of the owner.
The California approach is to let the owner get massive appreciation, which they receive at sale, but never pay tax on any of it.
- Kalium 3y agoCalifornia also has the deferment policy.
- tzs 3y agoDoes that ever lead to old people getting stuck? E.g., you've been getting deferrals for 25 years and now finally want to sell and move to be nearer family, but paying back the 25 deferred years and interest will not leave you with enough after the sale to afford a new place. And so you just have to stay until you die.