California Property Taxes — Home Value Appraisals — Make Professional Floor, Building & Landscaping Plans — Cheap Mortgage Refinance Rates
Home Value Appraisals, Property Tax Appeals
California Home Property Valuation California Property Tax Appeal and House Appraisal tutorial for home value appraisals and how to establish the market value of residential property and pursue a winning property tax appeal. Other books offer lot's of advice but not easy to follow actual examples for all valuation categories. Nothing comes close to this how to manual. Go to your local book shop or Barnes & Noble.com Bestsellers and see if you can find one. We're betting you can't.
Home Property Valuation
When reliable market data are available with respect to a given real property, the preferred method of valuation is by reference to sales prices. However, the cost of replacing reproducible property, less the depreciation, including both physical deterioration and obsolescence is also used. (Reproduction Cost Approach) http://www.boe.ca.gov/proptaxes/pdf/r4.pdf
California Home Property Valuation Exemptions
If you are a senior citizen, blind, or disabled, and are having difficulty paying your property taxes and meet certain qualifications, you may be eligible to receive assistance through property tax reimbursement or postponement. If the problem is temporary, some counties may allow you to pay using your credit card; check with your local county tax collector's office.
homeowners' exemption
The California Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home. The home must have been the principal place of residence of the owner on the lien date, January 1st. To claim the exemption the homeowner must make a timely filing of a simple form with the county assessor. A partial 80% exemption may be granted for homeowners who file a late affidavit and claim for exemption with the assessor between February 16th and December 10th.
property tax exemptions for veterans
There are exemptions for veterans, both in the State Constitution and in the statutes enacted by the Legislature. The Constitution provides an exemption, currently a $4,000 exemption, for most honorably discharged veterans or, in some cases, the spouse or parent of a deceased honorably discharged veteran. However, a person who owns property valued at $5,000 or more ($10,000 or more for a married person and his or her spouse) is ineligible for this exemption. Also, the same dwelling may not receive both the homeowners' exemption and the veterans' exemption.
Personal income tax
• California levies a 9.3 maximum variable rate income tax.
Sales tax
• California's minimum combined state (6 percent), county and local sales and use tax increased to 7.25 percent on Jan. 1, 2002.
• The top five states where the tax burden as a percent of income is the highest are: Maine (13.0%), New York (12.0%), Hawaii (11.5%), Rhode Island (11.5%), and Wisconsin (11.4%). The United States average is 10.1%. The District of Columbia is 12.2%.
• The five states with the lowest tax burden as a percent of income are: Alaska (6.4%) 50th, New Hampshire (7.4%) 49th, Delaware (8.0%) 48th, Tennessee (8.3%) 47th, and Alabama (8.7%) 46th. See effective state tax burden table
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