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In California, if you make improvements to your home you are forced into a reassessment and higher taxes. Many homes in California are not maintained and update
by Ajay-p 3y ago
In California, if you make improvements to your home you are forced into a reassessment and higher taxes. Many homes in California are not maintained and updated for this very reason, since the taxes are set from when the home was purchased.
https://www.sccassessor.org/faq/understanding-proposition-13 https://www.sccassessor.org/faq/understanding-proposition-13
- PopAlongKid 3y agoYou have mis-stated the situation. It is absolutely not true that "Many homes in California are not maintained and updated for this very reason [reassessment]". Only the cost of the improvement, such as an addition to the building, is added to the existing assessed value. The entire property is not reassessed. And if the update is just a remodel (such as new flooring and tile in your bathroom, or new cabinets/countertops in your kitchen), there is no reassessement. Example: a house was purchased 30 years ago for $200K, so that is the base year value (goes up 2% per year per Prop 13). If you build an additional bedroom onto the house for $50K, then only $50K is added to your assessed value.
- compiler-guy 3y agoAnd maintenance itself is never a cause for reassessment. New roof? No reassessment. New windows? No reassessment.