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CountAllVotes

(20,868 posts)
20. People do this a lot, esp. when elderly
Thu Oct 18, 2018, 11:02 AM
Oct 2018

>>But a Los Angeles Times analysis shows that many of those who inherit property with the tax breaks don’t live in them. Rather, they use the homes as investments while still taking advantage of the generous tax laws."

********************

It works for those that own properties that is for sure.

I know of a woman that owns three houses in the Bay Area.

She signed them over to relatives so she could get on Medicaid to pay for long-term kidney dialysis!. One of them is a rental that is bringing in over 5K a month.

Hell of a way to go IMO.

That's all I have to say except, FEED the RICH and by all means do ROB the poor!



Many times a house will be demolished except for frame of front door, for Prop 13 tax dodge. nt Bernardo de La Paz Aug 2018 #1
It's a Big Problem. byronius Aug 2018 #2
If the law was enacted by a public vote Kilgore Aug 2018 #3
If you eliminate the prop 13 tax break on inherited properties Mr.Bill Aug 2018 #4
What would keep renters from going to another rental BigmanPigman Aug 2018 #6
Because moving costs money, too. Many can't afford this. Mr.Bill Aug 2018 #10
We own a house that is taxed under prop 13. pennylane100 Aug 2018 #16
Our scenario exactly. Tikki Sep 2018 #19
Simple economics. Also, property tax has gone up significantly through the years on existing still_one Aug 2018 #8
Prop 13 covers these other taxes in a way. Mr.Bill Aug 2018 #15
Given we generally have a budget surplus in California Johonny Apr 2021 #27
With the inflated prices of real estate in California, trump's tax breaks which hurt states like still_one Aug 2018 #5
Every time "education" based taxes BigmanPigman Aug 2018 #7
and I voted for those revenues, but that is where the problem is. find out what is still_one Aug 2018 #13
Employers that benefit from an educated work force Mr.Bill Aug 2018 #11
I have no problem with that still_one Aug 2018 #14
Counties Levy Separate Taxes The River Aug 2018 #9
as a homeowner, I absolutely love prop 13 AlexSFCA Aug 2018 #12
WHAT A BUNCH OF SHIT ROB-ROX Aug 2018 #17
Our home went from $195,000 in the late 1990s SHRED Aug 2018 #18
I'm in a similar situation Retrograde Oct 2018 #21
People do this a lot, esp. when elderly CountAllVotes Oct 2018 #20
CA schools DonCallis Apr 2021 #22
It's the national budget of a lot of countries ... marble falls Apr 2021 #23
Welcome to DU! TomSlick Apr 2021 #28
Spam deleted by MIR Team DawwidDem Apr 2021 #24
Don't get me started on this. BigmanPigman Apr 2021 #25
No and Yes Johonny Apr 2021 #26
Latest Discussions»Region Forums»California»Are CA property tax laws ...»Reply #20