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Property Taxes

October 20th, 2010 at 08:17 am

**I scored some *free* toothbrushes. They were on sale for 99 cents, and I got $1 0ff coupons for Walgreens, for buying them. I bought one, and went back and snatched up 3 more (I hadn't realized they were on sale, and I didn't realize the coupon was for the toothbrush, so I got another one). If I had realized I would have bought one at lunch and one after work (the Walgreens is on my way home), to make them all essentially FREE. But what I did was run back first thing in the morning to snatch up more before the sale ended. I hadn't realized they were on sale until I got home and looked at the receipt. Doh.

Was nice, since I like a particular kind of toothbrush that usually cost more like $4 or $5.

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I got our new property tax bill. No surprises since I had looked up our property assessment earlier in the year.

In our state, property taxes can not go up more than 2% per year, but they can go down as low as property values go, any given year. (These rules were put in place when absurd price appreciation meant a lot of seniors could no longer afford the property taxes to keep their homes).

I have no complaints about our property taxes, as they have steadily gone up 2% per year (even while the price of our property more than doubled in a very short time). But with the economy, I welcome the chance to pay even less.

Last year our bill went down $400 for the year. This year, it went down about $300. That's some pretty substantial savings. We are still in this sweet spot where we have over 20% equity, etc. (Last year, our assessment fell to the price we paid for the house. This year, down another $15k or so).

For net worth purposes, I long ago decided just to track the assessment to value our home, since it was only a steady 2% increase. (Fair market value has been crazy and volatile, on the other hand). On the flip side, a large loss of value would be more important to track and is accurately reflected with this method. It just works for my purposes.

SO, I have to lower my assets by $15k for the year. But I won't complain too much, since I have no plans to move anytime soon, and welcome the lower tax bill. Phew!

1 Responses to “Property Taxes”

  1. Homebody Says:

    I paid mine already for the entire year, in other words I paid April's installment too. One good thing about California.

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