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Karen Climer, Teaching people to pass the real estate exam (Demetree School of Real Estate)

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3,138,311
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Here is a link of all states.

Sep 20, 2022 09:20 AM
Rainmaker
1,201,437
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

capped? We have a provision called Prop 2½. It caps prop tax revenue at 2½% over the previous year. If the need is there the Town must vote on an Override of Prop 2½. 

Sep 20, 2022 09:59 AM
Rainmaker
1,322,639
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

With California Proposition 13 added to control runaway property tax increases back in the 1970s, property tax is 1% of assessed value (usually the purchase price) and cannot rise more than 2% per year...no matter what the cost of living increase is. During the recession, due to falling property values, property taxes actually went down for many homeowners. As values have since gone up, so have property taxes.

Sep 20, 2022 08:14 AM
Rainer
195,522
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

In Florida, the value of the property can increase 3% annual for homestead and 10% for other property.  When the property changes hands, it is reassessed to the appropriate value.

The tax rate can increase as much as the local officials want to vote to increase it.

Sep 20, 2022 08:10 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

"Proposition 13 (1978) limits the property tax rate to one percent of the property’s assessed value plus the rate necessary to fund local voter-approved debt. It also limits increases on assessed values to two percent per year on properties with no change of ownership or no new construction."

Source

Sep 20, 2022 02:11 PM
Rainmaker
1,624,653
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Property taxes in California are limited by Proposition 13, a law approved by California voters in 1978. The law has two important features. First, it limits general property taxes (not including those collected for special purposes) to 1% of a property's market value.

Sep 20, 2022 02:01 PM
Rainer
380,867
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

the only caps come with appeals and last for 3 years.  If you appeal and win, it's capped at a 3% increase for 3 years.

Sep 20, 2022 12:47 PM
Ambassador
3,167,489
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

well the value on my property in Georgia doubled from 2021 to 2022.  However, it's still worth more than the tax assessment so I'm okay with it.

Sep 20, 2022 12:39 PM
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1,846,901
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

That's hilarious.

Sep 20, 2022 12:00 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

What defense does anyone have when the county they live in decides to add onto the ballot a measure for something we need (or don't) and is payable via property taxes? Even it is a good proposal, raising taxes has replaced good management. In CA, they have the right to assess not to exceed 1% if I recall correctly. On sales, all bets are off, and sales price and the buyer get the full treatment I believe 1.25%. I remember going to the library of which they take $60 per fees year via taxes and it is full of homeless, filthy and the books old and outdated and parking is not friendly. I don't mind paying for value, but not for that

Sep 20, 2022 02:34 PM
Rainmaker
2,399,863
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I don't know that it is in the State of North Dakota Karen Climer .

Sep 20, 2022 11:20 AM
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Brian Petruzzelli
LA and Las Vegas Real Estate - Hermosa Beach, CA
LA and Las Vegas Homes For Sale

Being an agent in the Los Angeles real estate space, the property tax in California is capped at 2% of the increased yearly value as others have also mentioned.

Sep 30, 2022 10:48 AM
Rainmaker
765,973
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Los Angeles County in California bases all property taxes on the sales price times 1.25%.  There is an annual increase based upon the market and maximum annual increase allowed.

Sep 21, 2022 11:47 AM
Rainmaker
902,038
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I am not aware of any caps in Connecticut. Taxes are based on mill rates that are based on budgets set in individual towns annually. Mill rates can go up or down, depending on what budget is proposed by school and town boards and approved by local voters.

Sep 21, 2022 06:08 AM
Rainmaker
5,238,815
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Karen Climer has Florida covered and the benefit for people who have owned thri property for years is tremendous. It even has some transfer benefits.

Sep 21, 2022 04:14 AM
Ambassador
6,416,959
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

They do have to struggle to raise the rate, however beyond that as long as values go up, so will taxes.

Sep 20, 2022 10:41 PM
Rainmaker
1,505,913
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

CA: 1% plus incidental local taxes.  Max of 1.5%-2% depending on your local taxes, assessments, etc.

Prop 13, about the only good thing to come out of California, aside from The Beach Boys, Thrash Metal, Ronald Reagan and Gold's Gym.

Sep 20, 2022 10:22 PM