Property Tax 2nd Installment

User Forum Topic
Submitted by NeetaT on January 17, 2020 - 11:11am

Hey Guys,

I just paid my 2nd installment on my excessive property tax bill after tripping over several homeless people and trash on the sidewalks to my "Little Italy" condominium. Never mind the occasional screaming out of obscenities by these homeless people and the blatant disregard for private and public property. Thank you Gavin Newsom (Democrat) and Kevin Faulkner (Republican). There is something blatantly wrong when the average property tax bill is over $500.00 a month and the city looks like a 3rd world sh-t h-le.

Thanks!

Submitted by flu on January 17, 2020 - 12:45pm.

Move then.... possibly out of state...Goodbye

If you can't make money in this economy, these days, and do so much better than previous years, even in CA... the problem isn't the government, it's you.

Yes, it's brutally harsh, but it's true. Progressives, liberals, conservatives, still whining about money....Seriously, the problem is you. ...

Submitted by Myriad on January 17, 2020 - 1:51pm.

I don't think property taxes are the problem. They're not great, but not terrible like NJ - 2% and crappy roads, services, etc - but you don't have to pump your own gas.
The issue is that they allow to homeless to setup anywhere while not providing other options. It's definitely cheaper just to create a town in the middle of nowhere somewhere in CA, and move all the homeless there. Give them some basic food and shelter at 50% the cost of doing the same thing in LA/SF/SD.

Submitted by The-Shoveler on January 17, 2020 - 3:02pm.

The inner city has always been the place where the poor and homeless live (at least since the 1950's).

Don't know why anyone thought it was a great idea to try to gentrify the inner city displacing the poor etc...

Anyway not so much an issue out in the sticks where I live.

Submitted by The-Shoveler on January 17, 2020 - 2:23pm.

duplicate

Submitted by EJ on January 17, 2020 - 3:05pm.

Just curious ... why pay the second installment now? I always wait until April 10, the last day without penalty. Is there any advantage to pay early?

Submitted by flu on January 17, 2020 - 3:36pm.

CA has one of the lowest property tax rates versus other states for both residential and rentals...and has a very generous carryover tax basis when you are senior or if you die. Even with the slight tax increase via bonds. That's one of the reasons why we've seen decent appreciation versus other states. and why people are able to keep homes generation to generation. Go look at the property tax rate at some red states. I don't see any of the homeowners complain about the awesome appreciation, but complain over a slight increase in a bond initiatives?
If you can't stand the couple of extra hundreds of dollars
PER YEAR fromm a bond initiative, then why the hell are you living in a condo in a building in downtown that most likely has a ridiculous HOA of a couple of extra hundreds PER MONTH and where you regularly need to pay for parking?????? Especially in San Diego....??

people will complain about anything on the pennies, but will gloss on the much larger useless things. like the unnecessary higher costs of parking, food, apartment style and balloon HOA fees ...

Submitted by flu on January 17, 2020 - 3:26pm.

EJ wrote:
Just curious ... why pay the second installment now? I always wait until April 10, the last day without penalty. Is there any advantage to pay early?

no, besides remembering to pay them versus forgetting April 10

Submitted by Myriad on January 20, 2020 - 1:34pm.

flu wrote:
EJ wrote:
Just curious ... why pay the second installment now? I always wait until April 10, the last day without penalty. Is there any advantage to pay early?

no, besides remembering to pay them versus forgetting April 10

At some point in the past, I paid 3 installments in one year for tax reasons. So now I'm on the schedule where I pay both of my payments at the end of the year.

Submitted by flu on January 20, 2020 - 1:43pm.

Myriad wrote:
flu wrote:
EJ wrote:
Just curious ... why pay the second installment now? I always wait until April 10, the last day without penalty. Is there any advantage to pay early?

no, besides remembering to pay them versus forgetting April 10

At some point in the past, I paid 3 installments in one year for tax reasons. So now I'm on the schedule where I pay both of my payments at the end of the year.

Before it could work for you because the year you paid the property tax would be the year that they would go on your itemized deductions. For some it didn't matter because you were getting hit with AMT... And now, it doesn't matter as much because your SALT deductions are limited. I didn't even both to itemize last year.
The standard deduction was a better option for me, and since I intentionally did very little donations, there wasn't much worth itemizing.

Submitted by Myriad on January 20, 2020 - 4:16pm.

flu wrote:

Before it could work for you because the year you paid the property tax would be the year that they would go on your itemized deductions. For some it didn't matter because you were getting hit with AMT... And now, it doesn't matter as much because your SALT deductions are limited. I didn't even both to itemize last year.
The standard deduction was a better option for me, and since I intentionally did very little donations, there wasn't much worth itemizing.

Right, now it doesn't matter. Maybe this is the year to go back to a normal schedule of paying property tax.
And the mortgage deduction isn't worth as much to most filers - except for those well above standard deduction.

Submitted by flu on January 21, 2020 - 9:45am.

the way I look at it. We have one of those market run ups going on right now. Thanks to our current government, the markets are on fire, capital gains taxes are at an all time low, inheritance tax is floored. Take the capital gains , pay the historic cap gains low taxes,.take the money and laugh all the way.to the bank. And then when/if progressives really takeover and taxes do go up, no worries. My goal is by the time progressives do take over, hopefully by then most of W2 income will be zero from retirement. So Dear Federal Reserve... Please keep pumping until Dow hits 30,000

No one should be complaining unless you sat out of the markets. And if you did that, too damn bad. blame yourself and all the other Doomsayers.

Submitted by outtamojo on January 21, 2020 - 2:12pm.

I hope our gains will be enough to make a difference when it comes time to pay the piper-will that day ever come? Yes I know worrying about debt levels has become old fashioned...

Submitted by The-Shoveler on January 21, 2020 - 3:17pm.

LOL so do you seriously think we will ever pay it off at this point? (the national debt).

One day some president will just order the treasury to mint a bunch of trillion dollar coins and use those to pay it off and I predict "nothing will happen", we will just go on like it never happened.

anyway IMO.

Submitted by flu on January 21, 2020 - 3:38pm.

The-Shoveler wrote:
LOL so do you seriously think we will ever pay it off at this point? (the national debt).

One day some president will just order the treasury to mint a bunch of trillion dollar coins and use those to pay it off and I predict "nothing will happen", we will just go on like it never happened.

anyway IMO.

I don't think we will ever need to worry about our debt as long as we have a large nuclear weapons arsenal and a large and modern military. About 30 years ago, I was asked to write an essay that could either compare or contrast the fall of Rome with the potential fall of the US. Some of those social studies teachers strongly encouraged us to write these comparions (or to give reasons why we were different from Rome) Many made the dire prediction we wouldn't be around 20-30 years from now or a major player in the world... I took the easy A and compared how US was like Rome since it's always easier to be negative and critical of everything that isn't working or failing versus actually thinking about the positive things this country uniquely offers.

Fast forward 30 years. We are still around, our influence hasn't really changed that much, and yes, my own kid middle school has the same exact assignment, where begrudgingly my kid also took the easy A route and wrote about how similar we are to Rome and we will fail 30 years from now, not really believing it....

Lol. Thank God I didn't make any financial decisions based on this sort of gloom and doom misery. In fact, quite the opposite. I thought most american educators were full of it, couldn't manage their own personal finance and could hardly be a role model for anything money related, and started trading stocks when I was 17-18....

So yeah , lol. America's death and demise has been long predicted a long time ago. Chances are, it won't happen in our lifetime or our kids lifetime. For every person wallowing in misery here, there is probably someone else that is doing just fine.

Submitted by The-Shoveler on January 21, 2020 - 4:29pm.

As long as we can hold it together politically I think the country will continue to lead and do just fine.

The biggest threat IMO right now is the unwillingness to meet each other half way (it is either extreme left or extreme right any one in the middle will be thrown out on their ear). I don't think the real majority of the country really wants this, it is just the few who hold the political strings screwing things up.

Submitted by FlyerInHi on January 21, 2020 - 4:36pm.

The-Shoveler wrote:
LOL so do you seriously think we will ever pay it off at this point? (the national debt).

One day some president will just order the treasury to mint a bunch of trillion dollar coins and use those to pay it off and I predict "nothing will happen", we will just go on like it never happened.

anyway IMO.

Then why all the self-induced crises over the debt limit and stimulus during the Great Recession? That means we actually depressed the recovery and we all the poorer for it, all because of misplaced ideology.

Submitted by The-Shoveler on January 21, 2020 - 5:05pm.

Yea it could have been handled much differently but I still maintain to this day that the great recession was a planned event (it happened the way they "the fed and powers that be" wanted it to). (seriously if we could see it coming you honestly think they did not)

Debt used to build infrastructure is not wasted money (unless you give it to California politicians who can't seem to do or build anything LOL).

China debt is up to 3 times their GDP we are at about 1 time GDP so we are looking good actually compared to most of the rest of the developed or developing world.

Submitted by outtamojo on January 21, 2020 - 4:48pm.

Let's not forget that not too long ago WE were the doomsayers.

Submitted by The-Shoveler on January 21, 2020 - 4:53pm.

I never predicted the country would fall into ruin just a temporary downturn in RE that would quickly rebound.

Submitted by Myriad on January 21, 2020 - 5:16pm.

It seems pretty obvious that governments will just create more money to ensure that there's not a huge crisis that crashes the system.
Look at Japan with 250% of Debt/GDP, and they have basically 0% rates.
If asset prices and deflation really occur, governments will just give everyone the equivalent of cash to inflate asset prices back to normal.

Submitted by Myriad on January 21, 2020 - 5:17pm.

. dup

Submitted by flu on January 21, 2020 - 5:38pm.

The-Shoveler wrote:
I never predicted the country would fall into ruin just a temporary downturn in RE that would quickly rebound.

bingo. I dont many of us were predicting 75% off of la Jolla. those that were probably missed the boat.

Submitted by flu on January 21, 2020 - 5:40pm.

Myriad wrote:
It seems pretty obvious that governments will just create more money to ensure that there's not a huge crisis that crashes the system.
Look at Japan with 250% of Debt/GDP, and they have basically 0% rates.
If asset prices and deflation really occur, governments will just give everyone the equivalent of cash to inflate asset prices back to normal.

And there's always the possibility of negative interest rates. That's like borrowing a can to kick down the road. lol

Submitted by flu on January 21, 2020 - 5:43pm.

The-Shoveler wrote:
As long as we can hold it together politically I think the country will continue to lead and do just fine.

The biggest threat IMO right now is the unwillingness to meet each other half way (it is either extreme left or extreme right any one in the middle will be thrown out on their ear). I don't think the real majority of the country really wants this, it is just the few who hold the political strings screwing things up.

I disagree. As long as the Constitution is not changed, even the worst leaders will eventually be term limited out which isn't very long. that's one of the reasons that makes our system great. unlike China or Russia which the leader can simply change the equivalent of the Constitution.

Submitted by FlyerInHi on January 22, 2020 - 1:13am.

Flu, are we so sure of our greatness and superiority?

In the last few threads you wrote glowingly about government and Fed intervention in keeping the economy going. Do you know that’s the China model and not historical US laissez faire. More and more countries are following the China model, including us.

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