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Is Trump butt fucking you on your property taxes?

beertruck

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just sold the house last month, was paying over 28K a year in Mass.
 

RCDave

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Another way the govt doesn't allow it's citizens to own real estate. At the same time stick it to it's citizens ....
 

Ziggy

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My almost 36 year California residence is just shy of $1600 annually.:cool::D
The other properties combined are biting me for $60k for the 2019-20 cycle.o_O
 

Ziggy

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...$750...on an estimated value of $536k...in Ca...One of those propositions that works in your favor when you inherit your parents home... Can’t remember which proposition???...
Good on your parents doing it correctly.
Parent to child transfer reassessment exemption. It doesn't happen automatically, it has to be properly executed to get that exemption.
 

DUNEFLYER

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9600.00 in Ca.
5600.00 in Havi
Guess I will never really own these properties..
 

Spot

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Good on your parents doing it correctly.
Parent to child transfer reassessment exemption. It doesn't happen automatically, it has to be properly executed to get that exemption.

What is the process to do the parent/children transfer?
 

brownsuger

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Yep, it my dads house in IL. Cook County has the highest prop tax rates in the USA. Minimum is 2%


I'm in southern IL, near St. Louis and while ours aren't anywhere near that.... We do pay $6,000.00
 

Spudsbud

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Yep, it my dads house in IL. Cook County has the highest prop tax rates in the USA. Minimum is 2%

Yup. I'm in cook county. 2300 sq. Ft. $12k. And it's going up significantly in 2021.
Thank you gov. pritzker I'm out in 12 to 18 months.
 

rvrrun

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Apx 7k for my casa in Carlsbad
The family house in IL is almost 30k
That’s why we stopped looking in TX, it was going to be around that for the houses we were looking at.
 

Singleton

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That’s why we stopped looking in TX, it was going to be around that for the houses we were looking at.

Same thought on TX. Same size house as we have in Carlsbad was almost double or triple in property taxes. The savings on income tax is reduced when you factor that in. Plus the off-road and camping spots were limited in TX.
We are now thinking outside burbs of Vegas. Still allows us to do everything we like (Jeep, off-road, Havasu), but gives us big city food places and shopping my wife likes. Then rent in Carlsbad during the summer to enjoy beach time.
 

Singleton

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Yup. I'm in cook county. 2300 sq. Ft. $12k. And it's going up significantly in 2021.
Thank you gov. pritzker I'm out in 12 to 18 months.

Only reason IL house is still around is it is paid off and it is a great place for all my dad kids and grandkids to meet up for a long weekend during the summer. Trust earns enough $$ to support annual costs, so it is not costing money the way my dad thinks about it. Plus the family could not break even (can’t even get purchase price for it and that is before the remodels), if we tried to sell it.

IL has done a great job of killing off higher end neighborhoods with it politics.
Only state IMO that is as bad as CA.
 

Bobby V

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What is the process to do the parent/children transfer?
My guess would be have a trust and not a will would be a good start. My wife ineherited a condo in Waikiki and a waterfront home with a dock on Diamond Head. Its been a pain for her going back and forth to Hawaii and hiring attorneys for probate. :rolleyes: She goes back next week to clean out the Diamond Head house. Waikiki condo is rented for now.
 

Singleton

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My guess would be have a trust and not a will would be a good start. My wife ineherited a condo in Waikiki and a waterfront home with a dock on Diamond Head. Its been a pain for her going back and forth to Hawaii and hiring attorneys for probate. :rolleyes: She goes back next week to clean out the Diamond Head house. Waikiki condo is rented for now.

Bingo.
Everything my dad owns is in a trust. When my dad or stepmom passes, control shifts to the children and each of us has a 25% stake. Any changes to the trust require 80% approval. When is gets passed, it goes from his trust to mine and avoids a shit ton of issues and taxes!
Everything my wife and I own is also in a trust (house, cars, toys, etc). Since we have 3 kids (only 1 of them is my biological child), we have a 40, 30, 30 split and it mirrors how control works in my dads trust, to keep it fair to all kids.
 

hallett21

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7ish


Sent from my iPhone using Tapatalk
 

Ziggy

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My guess would be have a trust and not a will would be a good start. My wife ineherited a condo in Waikiki and a waterfront home with a dock on Diamond Head. Its been a pain for her going back and forth to Hawaii and hiring attorneys for probate. :rolleyes: She goes back next week to clean out the Diamond Head house. Waikiki condo is rented for now.
Having it all spelled out in a trust is a worthy step so the executor of trust takes all the proper steps.
 

Bobby V

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Having it all spelled out in a trust is a worthy step so the executor of trust takes all the proper steps.
Yep. My wife found out there were a couple wills. The"25 year old caretaker" that a 80 year former commander in the Navy fell in love with her was in the last will that luckily was never signed. The old guy was in love.... :)
 

TITTIES AND BEER

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1100.00 $ 5ac 2000 sqft house unfinished guest house 20x30 garage
 
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LuauLounge

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If you have property and assets that you want passed on and don’t have a trust, do your heirs a favor now and set one up. Hire a trust attorney and let them do it correctly.
The process to carry out your wishes after you have passed will save your heirs more time and money than you paid to set up the trust.
 

JBS

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If you have property and assets that you want passed on and don’t have a trust, do your heirs a favor now and set one up. Hire a trust attorney and let them do it correctly.
The process to carry out your wishes after you have passed will save your heirs more time and money than you paid to set up the trust.

I totally agree. There will still be issues but the properties are easy


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3.Slow

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About 5800 in Ca, I think our rate is about 1.75%.
 

jeteater1

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$4000 but it's in the loan 2.75 acres, 2800sq ft house
 

GRADS

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Not to turn this political but you guys paying over 10K a year, Trump really fucked you.
 

RodnJen

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$8,800 and climbing by 2% each year as directed by Prop 13.
 

Done-it-again

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Not to turn this political but you guys paying over 10K a year, Trump really fucked you.

nope CA did. When CA kept raising taxes its first word was you can write this off on your fed taxes.

most states that had high taxes changed to help with the salt tax. But not CA.
 

GRADS

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Did you post this and then report it?
No, I only report bogus pro Trump shit.

I should probably rename this thread "Is Trump butt fucking you?"
 

SNiC Jet

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Not to turn this political but you guys paying over 10K a year, Trump really fucked you.

When did the Feds or President Trump begin "setting" and collecting property tax?
 
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Spudsbud

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Not to turn this political but you guys paying over 10K a year, Trump really fucked you.

Pres. T had nothing to do with. Here in Il, Pritzer and his demmies did it. Rather than fix the problem he's just acquired new, more money to throw at it.
 

94Nautique

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$2300 here in CA.
That's what living with Prop 13, and in the house for 20 years.

How is Trump doing anything?

BTW, your fellow lefty Rodn wants to kill 13, which would do the buttfucking you speak of.
 

Taboma

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Having it all spelled out in a trust is a worthy step so the executor of trust takes all the proper steps.

Having a pre-trust meeting with my son here in the next couple of weeks to discuss a few issues, hoping to avoid any hard feelings later between he and his sister.
I've got to get it somehow written so my useless son-in-law can't enjoy a nickle of anything we leave. :mad: I'm guessing that's going to be pretty tricky in order to avoid punishing my daughter and to keep things fair, my son as well.
 

RodnJen

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nope CA did. When CA kept raising taxes its first word was you can write this off on your fed taxes.

most states that had high taxes changed to help with the salt tax. But not CA.

No they didn’t. A few attempted a work around, but no dice.
 

SixD9R

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Trump is only butt fucking the libs in blue states like comifornia and New York. My taxes have been stable here in Pa. but my income and take home pay have gone up nicely. Thanks to the Trump economy I got nice pay raises this year and business is roaring. Between the booming business and pay raises I’m on track to make about 20k more this year than last. Plus when the Trump tax cuts went into effect my take home pay shot up about 50 bucks every week. And my most recent federal income tax return was even a little higher. So no I didn’t get screwed- you libs did but you apparently like it. And BTW I’m right in the middle class so you can also shove your bullshit about Trump only helping millionaires up your ass as well as Trumps cock.
 

Skinny Tire AH

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Yore back. ;)

No sir. I just can't resist low hanging fruit. Specially when a low IQ voter serves up a 84 MPH high, hanging fastball. Besides, I posted on the Peloton thread last week as well. That chick is fricking smoking ass hot.

in Arizona, property taxes are a function of value. Don't play if you can't pay.

Or how about this one @GRADS get a job and you won't worry enough about it to start a thread where you, (to quote you) "Take a dump in the P&G, just to see what happens".

Your self esteem must really suck. An egomaniacal dimwit with low self esteem.
 

ultrajet

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Not to turn this political but you guys paying over 10K a year, Trump really fucked you.

Wrong . Our CA SALT tax is close to $30k ( 11k property tax) Can only deduct 10k per law but the Trump tax plan lowered our overall tax burden significantly due to lower rates . You’re watching too much CNN
 

GRADS

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Wrong . Our CA SALT tax is close to $30k ( 11k property tax) Can only deduct 10k per law but the Trump tax plan lowered our overall tax burden significantly due to lower rates . You’re watching too much CNN
Bullshit.
 

DaveC

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I am not participating this circle jerk of a thread but yore wrong. Look up AMT
 

DaveC

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Property tax is $15,000 for mine and $9000 for the other house

My federal incomes taxes went down.

And my state taxes were significant.
 
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