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aggiesal

(10,942 posts)

10. It doesn't work that way in California ...

Reply to MichMan (Reply #2)

Tue Feb 16, 2021, 09:40 PM

Feb 2021

Just because you had the house appraised does not cause the taxes to go up.
You'd have to file with the county to adjust the property taxes, but that usually only happens with the value of the home goes down.

When the next buyer buys the home, the property taxes are adjusted to the sale price of the home.
It is one of the reasons that elderly people sitting on a house they bought for $50,000, 50 years ago, and now appraised at $1M+, still would not move because no matter how cheap they buy their next home, their property taxes will go up. Unless they move out of state.

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Highlight:

Black Couple's Home Valuation Increased by 50 % After White Friend Posed as Homeowner [View all] G_j Feb 2021 OP

It happens with appraisals, mortgages, jobs, rents, deposits, etcetera. JanMichael Feb 2021 #1

Wonder if their property taxes are now going to go up to match the 1.4 million appraised value ? MichMan Feb 2021 #2

It doesn't work that way in California ... aggiesal Feb 2021 #10

No, thanks to Prop. 13 Retrograde Feb 2021 #11

What can the average person do to help this situation? I hate it so much. Maraya1969 Feb 2021 #3

Well, that was a shocking read. Depressing. Shrike47 Feb 2021 #4

Fannie's and Freddie's automated appraisal tools are intended to help combat that soothsayer Feb 2021 #5

"Coded language" - no kidding musette_sf Feb 2021 #6

Appraisals, current market assessment are all based on marketing theories bucolic_frolic Feb 2021 #7

Who knows who and what race the owners are? treestar Feb 2021 #8

Are we talking about an exterior appraisal wnylib Feb 2021 #14

Yes. And then is the appraised price treestar Feb 2021 #16

There's also the possibility (likelihood) that wnylib Feb 2021 #17

True. The appraiser has room to treestar Feb 2021 #18

Lawyer time? Blue Owl Feb 2021 #9

We live in a white supremacy. WhiskeyGrinder Feb 2021 #12

I watched this and my jaw dropped malaise Feb 2021 #13

I smell a discrimination lawsuit, and Oldem Feb 2021 #15