No video :(

Inherited homes and California's DEATH TAX: What you need to know

Horizon Real Estate & Probate and Trust Help

Подписаться 6 тыс.

Просмотров 102 тыс.

50% 1

California's death tax has brought significant changes to property taxes, especially for inherited homes. In this video, we break down the impact of Proposition 13 and Proposition 19 on property taxes.
Learn how Proposition 13 kept property taxes low for homeowners and how Proposition 19 has altered the landscape, increasing the tax burden on inherited properties. We also provide some strategies to protect your inherited property and ensure your estate planning is up-to-date.
Whether you're an executor, trustee, or beneficiary, this guide will help you navigate the complexities of California's evolving property tax laws. Make sure to stay informed so you can make better decisions for your family's real estate assets.
00:00 Intro
01:08 Proposition 13
02:16 Proposition 19
03:19 How does this affect you?
03:58 Story time - The Johnsons Dilemma
05:14 The Reyes family
05:46 Summary
06:23 Outro
Here at Horizon Real Estate we care about helping you, as the estate executor, administrator or trustee. We want you to feel comfortable throughout the probate process, and to help you get the most money quickly from your estate house or trust property.
Kim Ward DRE#01218310
Ashlie Rivera DRE#02042935
Advisors@ProbateAndTrustHelp.com
___________________________________________________________________________________
Have a probate house or house in a trust and need guidance on how to prepare and sell? Think of this channel as your real estate resource.
If you’re an executor or administrator and want a free copy of my book "What To Do When You’re Responsible For Real Estate A Loved One Leaves Behind" Or, if you’re a trustee and want a free copy of "Exactly What To Expect As Trustee For Real Estate A Loved One Leaves Behind" simply call my office at 619-741-0111.
I’m a full time REALTOR in San Diego, California with Horizon Real Estate. I’m an expert at helping executors, administrators and trustees with probate houses and houses in a trust. A wife, mom to three grown sons and a daughter, plus She-she (that’s my grandma name) to the two cutest, smartest and busiest kids.
AGENTS - Interested in becoming a Certified Probate Real Estate Advisor?
Visit ProbateBiz.com
LET’S BE FRIENDS!
BLOG - probateandtrus...
FACEBOOK - / yourrealestateanswers
PINTEREST - / brokerkimward
INSTAGRAM - / probateandtrusthelp
TWITTER - / brokerkimward
LINKTREE - linktr.ee/Prob...
So happy and grateful for your subscription to my channel. Big thanks for watching, liking, and commenting!
I am NOT a lawyer or tax professional. The presentations reflect my own understanding of the underlying subjects. However, the presentation is based on my professional experience in the field of real estate. The information contained herein should NOT be used as a substitute for the advice of an appropriately qualified and licensed attorney, tax professional or contracted real estate agent/broker. The information provided here is for informational purposes only. You should consult with a professional to seek legal advice regarding your exact circumstances.
If you want to talk with me about San Diego real estate, fell comfortable calling me at 619-741-0111 or email me at KimWard@ProbateAndTrustHelp.com
California DRE license #01218310

Опубликовано:

16 авг 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 400

@jayfoland5450 26 дней назад

A question I have is does the beneficiary have to be the one who moves in or can it be another family member who is not a direct beneficiary of the trust?

@jeffarcher400 24 дня назад

The beneficiary must move in forever.

@Toltecgrl 4 дня назад

She said the beneficiary must live there for a year

@joanneb3524 25 дней назад

I inherited my brother's home in 2020. He had Prop 13 advantages since the home had belonged to our parents, and he was added when our father passed. When our mother passed, he was grandfathered in to Prop 13 since his name was already on the deed. Since Prop 19 only is given to Parent-Child or Grandparent-Child inheritances, I was not able to take advantage of the changes. Property taxes quadrupled, even though we made it our primary home, and I'm over 55. Prop 19 didn't help me at all. I sold the home in 2022, that was the plan all along. The buyer became upset when they realized that their property taxes were about 5X what my brother had paid and wanted to sue me for the change in property taxes. I hadn't done anything wrong, which was what they first tried to claim. A few months after the home was sold, they tried to get me to sign a document that said I would pay THEIR property taxes in perpetuity, retroactive to the date of sale. Um......no. Didn't sign and said "see you in court". They haven't bothered me since. This is one way people can lose possession of an inherited home.....if they can't pay the property taxes on the reassessed value, you're sunk. I'm not in CA anymore.

@norwegianblue2017 24 дня назад

God forbid regular middle class people be allowed to keep anything of value. Need that money to pay for illegal aliens and welfare state and $10k public trash cans.

@Joe_At_Empire_Marketing_Group 22 дня назад

The world is going off its rocker...it is SEVERELY mentally disordered. I am beginning to see why Elon wants to go to Mars. It will take a while before you have neighbors who live close enough to you (if you have Elon's bank account) to drive you crazy!

@Gregarious3 22 дня назад

How do you think it works in every state?

@markme4 21 день назад

Why would your buyers think you would pay their property taxes for them ? 🤷🏻‍♂️

@BackyardBeeKeepingNuevo 16 дней назад

Congratulations 🎊🍾🎉! You were able to escape Commiefornia relatively unscathed!!! I am planning my escape from The Un-Golden State!

@rvirzi 12 дней назад

I supported Prop 19 because it provided loopholes used by businesses to avoid property tax increases on transfers that had nothing to do with families. The fact that is narrowed the benefit to primary residences that were lived in by specific people after sale eliminates a lot of the loophole strategies.

@coleevans2487 25 дней назад

Prop 19 was a disaster and has resulted in higher rents in a state where rents were already high. The reassessed property taxes were just passed on to the tenants.

@jeffarcher400 24 дня назад

It hasn't even really hit the fan yet. It's going to skyrocket as more people die.

@331SVTCobra 11 дней назад

There are several factors involved with the rents and the homeless. 1. More and more high tech jobs in California mean more workers are moving in as they graduate universities on the East Coast and Midwest. (Let's face it, most of today's youth want to move to California.) 2. The major cities are essentially built-out and there is no room for more suburbs. 3. For the existing living spaces, supply and demand drive the prices up. 4. Run down apartments evict the tenants, renovate, and charge three times as much for the young high-paid workers. Many of the evicted can't afford any apartments. 5. The developers complain that homelessness is due to liberal environmental restrictions. The restrictions get lifted, and the developers build high tech office spaces (instead of homes). The high tech offices host even more high paying jobs for more people to move here, exacerbating the housing problem. There's not really such a thing as "passing the cost on to the tenants". Rather, rental prices, like all prices, are set by supply and demand. With two adjacent homes being rented for $3k/mo, if one of them gets sold, tripling the property tax, prospective renters will see one house at $3k/mo and the adjacent one at $4k/mo. They will pass on the expensive one. Keep in mind that both homes are renting at $3k/mo because all the similar homes are going at that rate. If suddenly all the homes are renting for $3800/mo, then the two homes will also raise their rents to $3800 regardless of whether the property tax was raised.

@t.haller6093 Месяц назад

Property paid in full shouldn't be taxed

@scstudios8 Месяц назад

You consume resources still, so you still should be taxed. You pay for the fire and police and infrastructure for your community. Just because you finally paid the house off has no relation to why there is a tax. Its not home owners insurance. The problem is, the tax gets jacked up faster than inflation just sitting there, let alone when you sell the home it all gets reassessed. You still need the tax because you exist where you live and that requires some amount of kickback. Its just become a money grab. Many places its not a significant amount, here in CA is stupidly high. My house is $750 per month just for the prop tax. That is more than I used to rent in Atlanta 10 years ago.

@jumperstartful Месяц назад

can't get away from property taxes.

@admtahoe 29 дней назад

@@scstudios8 I would agree with this EXCEPT....Look at my neighbor who gets child credits because they chose to have Kids....I didn't choose that for them....Why should I pay more tax than them because I don't have kids in the house? They use the Police, Fire, infrastructure....Shouldn't everyone pay the same amount for those things? I have no problem paying for Police/Fire but why should I pay a bigger share? That is what is truly B.S.

@Flub_Kub 29 дней назад

Heck, it should only be taxed once! Not over and over and over again. I understand local taxes, but "what the hell" with the rest...?!

@LMO1980 28 дней назад

@@admtahoeYou should pay a bigger share because it is your obligation to future generations to have children. If you don't have children, society will fall apart. Governments know this, and that is why they incentivize people to have children. Also, all children are future tax payers that will contribute to the services that the generations that came before them will use in their old age. Think of it this way, you kick in now so that all the kids who benefit from your taxes can make it to adulthood and start kicking in themselves. However, I get where you're coming from because the things that property taxes are supposed to pay for are producing such poor results and thus are a waste of money.

@grahammatthews1428 Месяц назад

We were told in a realtor association meeting by the Los Angeles county assessor himself that moving in for one year would not change the taxes indefinitely. The child had to move in and stay in there. Once the child moves out say in a year or 2 years or 3 years the property taxes would go to market value. Double check that for San Diego. I think the Reyes are in for a rude awakening.

@mam564 Месяц назад

Your explanation is my understanding as well. Thanks!

@ProbateandTrustHelp Месяц назад

Graham, that would be a great question for the San Diego Tax Assessors office, but, I believe that the taxes would remain the same even if the family member moves out of the property

@HouseGuide Месяц назад

Graham Mathews, what if a family member was 55 or older, moved in and then later sold the home to move to the place he wanted in California, would tht person then maintain his tax basis. I don't see a problem with that.

@grahammatthews1428 Месяц назад

@@HouseGuide That's a great question and an interesting senerio. I would assume that might be a way to work around being permanently tied to your parent's old property. I don't know the answer to that, but recommend you ask the county assessor's office where your property is located. Thanks for that question.

@snoopyloopy 29 дней назад

Excellent.

@michaelglueckert7662 25 дней назад

Newsome!! Vote him out people!!! Good grief!!!

@saintpreferred9223 5 дней назад

Won't matter. Cali cannot be fixed in your lifetime.

@RAREFORMDESIGNS Месяц назад

I love how people complain about things they voted for.

@comment_creator_76 Месяц назад

Not everyone voted for this Einstein

@np5687 Месяц назад

lol 😂

@thx2434 Месяц назад

I voted against it!!

@michellebayon2387 Месяц назад

They always want to blame others for their ignorance.

@frankelizalde9306 Месяц назад

@@michellebayon2387Liberalism advocate, Kevin Mullin , Democrat, authored CA Prop 19.

@ronoconnor8971 27 дней назад

Sounds about right in Ca. She said a $500,000.00 house would have $600,000.00 taxes.

@Joe_At_Empire_Marketing_Group 27 дней назад

Yeah, I'm glad you caught that one, Ron. Who wrote the script? Who edited it for accuracy? Glaring mistakes like this don't build trust, that's for sure. I would not want them to fill out a purchase agreement on my behalf!

@ronoconnor8971 26 дней назад

I thought I heard it wrong the first time. Guess they work for the government

@kittycat6195 26 дней назад

She meant 6,000

@Get_to_the_Point 22 дня назад

lmao I thought she was being sarcastic.

@Joe_At_Empire_Marketing_Group 22 дня назад

@@kittycat6195 Are you sure, kitty?

@jeffprostar1909 Месяц назад

Just another reason I left California

@moorefacts6605 Месяц назад

The states with no state estate tax as of mid-2023, are Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Michigan, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, ..

@jeffprostar1909 Месяц назад

@@moorefacts6605 That's not what she is pointing out. She saying the propositions are changing when you inherit your parents property the tax would stay the same as your parents paid. Now the state reevaluates the property . You pay much higher property taxes if you keep the property.

@markskibo5159 Месяц назад

@@jeffprostar1909 So What, if I buy one I have to pay

@frankelizalde9306 Месяц назад

@@markskibo5159For those who enjoy paying higher taxes, then Kevin Mullin, Democrat, author of Prop 19, is YOUR man !

@stuarthaggard121 Месяц назад

So you made California a better place by leaving.. hahahaha

@jeffsadon552 Месяц назад

Thank you Gavin Newsom

@moorefacts6605 Месяц назад

@Sam9wilson9 Месяц назад

Where can we find more info on the one year loophole; didn’t see that. Seemed to read primary residence as to avoid becoming a rental with a tax benefit

@willieverusethis Месяц назад

@@moorefacts6605 This isn't an estate tax. It's just a regular reassessment of property taxes.

@timh3221 Месяц назад

@jeffsadon552 - you should know that the California Association of Realtors (CAR) spent $35.7M on getting this prop passed to increase the number of Real Estate transactions which would naturally line the pockets of Real Estate Agents, Brokers and CAR... Quoted from CAR website Did You know? Did you know that Proposition 19 will spur housing economic recovery in California? Proposition 19 limits property tax increases on primary residences for family transfers, homeowners over 55 years old, people with severe disabilities, and victims of natural disasters or wildfires by removing unfair location and price restrictions. This will open up tens of thousands of housing opportunities, making homes more readily available for first-time homeowners, families, and Californians throughout the state. Less Than One Week Until Election Day… All voters in California should have received their mail-in ballots, and early voting is happening across the state. Now is the time to encourage your friends and colleagues to vote for Proposition 19. www.car.org/knowledge/brokers/Prop-19 and, external information on the dollar amount www.housingwire.com/articles/why-car-campaigned-for-californias-proposition-19

@jumperstartful Месяц назад

He has his eyes on the White House! And the soccer moms love him!

@sjnix7044 Месяц назад

Thats why Im leaving CA when I retire in three years.

@saintpreferred9223 5 дней назад

So, Cali still gets their CA 540 taxes for 3 more years....excellent decision...

@sjnix7044 5 дней назад

@@saintpreferred9223 I’m in PERS. I have to wait three more for it to make sense. I’d love to be done now but it would be stupid.

@kimmarquis2354 Месяц назад

Taxation without representation.

@willieverusethis Месяц назад

Um, Prop 19 was voted in by Californians directly.

@frankelizalde9306 Месяц назад

@@willieverusethisProp 19 Was authored by Kevin Mullin, Democrat, monger of imposing big tax on home owners.

@victoria19853 11 часов назад

@@willieverusethisYes it was on the ballot. But it’s a trick by the state of California at the same time. According to constitutional law the state and federal government are out of pocket because at the end of the day is illegal to tax property according to the constitution.

@royrosete7085 Месяц назад

from Sacramento w/love..... BOHICA....

@jumperstartful Месяц назад

bohica memories!

@MikeHowlett916 Месяц назад

The example of moving into the home for 1 year to avoid a Prop 19 reassessment is not accurate. To clarify, the family member has 12 months to make the inherited home his or her primary residence. The 12 month clock starts on the date of death. The assessors office will also require the family member to record a homeowners exemption to further evidence it's owner occupied status. If at any time the home fails to maintain it's owner occupied status, it will be subject to reassessment under Prop 19. This is true regardless of if the family member has lived there for more than 1 year or not.

@wglazaldimbapmp784 12 дней назад

thank you for correcting this inaccurate Video

@beckyg361 9 дней назад

Yes. This was my understanding too. Got a year after death to get a beneficiary to move in. This video made me doubt what I thought I knew. A beneficiary needs to keep it owner occupied forever to retain the low taxes.

@vidan3018 4 дня назад

the way I am hearing (as a CA resident and home owner) prop 19 did exactly what it was supposed to do. Limit inherited benefits, trying to fix distorted market. Good.

@cawreshist1019 Месяц назад

Sold everything and left Comi Cali in 2012 They now have highest income tax in the country and their still broke!

@BlindSquirrel425 Месяц назад

Um, not broke. CA’s economy is #5 in the WORLD. Glad you left if you didn’t like it here. Happy landings.

@cawreshist1019 Месяц назад

California has a government budget problem , they can't even fix the roads. Now have no state income tax, 2 homes and a lake front , good luck staying in Comi Cali .

@BlindSquirrel425 Месяц назад

@@cawreshist1019 sounds like you're still living here in your head.

@youngj7 Месяц назад

@@cawreshist1019you left CA so stop thinking or talking about us dude.. You’re like that lame guy who can’t get over his ex 😂

@ashtonderojas821 29 дней назад

Yall in California act like everything is fine and dandy when companies are leaving in droves, small businesses are closing, Oakland is about to go bankrupt and your state is in a 55 BILLION dollar budget deficit. Quit acting like things are fine.

@Bob-cd5pp Месяц назад

Money Grab

@BackyardBeeKeepingNuevo 16 дней назад

Thank you Ms. Ward. This is exactly the information that I needed when I consult with my estate planner.

@ProbateandTrustHelp 15 дней назад

Glad it was helpful! Thank you for watching, and commenting.

@lqdxoni1 9 дней назад

Time for a family trust

@dalegereaux1863 Месяц назад

If a grandson has been living in the house for 2 years to take care of grandma would he be able to keep the current tax rate ? Would it help if the daughter and grandson were both added to the title of the property ?

@Joe_At_Empire_Marketing_Group 22 дня назад

If you do that, you run into some potentially serious problems. If your grandchild or daughter is added to the title, you could lose your home if either of them were sued and lost the suit! See an estate attorney to learn ways of accomplishing your goals without potentially jeopardizing your home!

@mikem488 14 дней назад

@@Joe_At_Empire_Marketing_Group If you start fooling around with title with the grand kids. You might be causing problems with now you have capital gain problems with the kids on the death or inheritance. If it stayed in grandma name. It take the the valuation on the death of grandma for capital gain. So no capital gains. You should consult an attorney for a one hour conference.. Money will spent.

@mrdiggie3321 29 дней назад

Why should we be giving people tax breaks on their second, third, fourth homes, while all first time buyers have to pay the full tax rate? It doesn't make any sense.

@ELEVOPR 26 дней назад

If your A Corporation and have multiple homes or if your just rich and own lots and lots of Real-estate. It's makes sense because it saves the rich and screws the poor with One home.

@toneyo4794 24 дня назад

It’s taking about an inherited home after a death, so it’s not a second home, and the property tax then is brought to market. The real problem is the property tax overall is too high. People can’t keep the inherited home due to the higher tax rate.

@ELEVOPR 24 дня назад

@@toneyo4794 This is why Property taxes in United States need to be Abolished. It's a very unfair tax to a family that loses their parents in an accident and the kids have to sell the home because they cannot afford to live there after home is paid off because of taxes. Or an older person that has little income is forced to be homeless or live in an old age home where Tax Payers pay millions to keep her till she passes but won't Abolish her taxes. Insane how Corporate America keeps on screwing us. Not taxes on your first home or the home you reside in.nIts not that hard.

@SuccessForever1234 Месяц назад

Newssss. getting that same directives from Canada’s Trudeau

@scstudios8 Месяц назад

My prop taxes go up over 2% every other year in CA. There are so many loopholes that they find one thing or another to say, oh, well, this happened, so we can raise it over 2% this year, and the next, and then again. Did you paint your house, OOOOHHH thats home improvement, we will raise your taxes. DId you pull a permit WAIT A MINUTE, thats home improvement, lets raise it again. Did the value of the home go up due to increased home prices, OOOOHHH MY GOD, lets raise your property taxes. Did you do a refi, F U, raise the tax.......Its a joke.

@ZekeRivers Месяц назад

Ours went up 11 percent this year alone - all the Bernie Sanders robots are getting what they voted for.

@willieverusethis Месяц назад

The reason the taxes go up is because the value of the property has gone up. What did you buy it for, and what is it worth now? I imagine it has increased in value far more than the 1% per year you are paying taxes for. In other states, you have to pay the full taxes on the actual value of the house.

@ZekeRivers Месяц назад

@@willieverusethis The other reason our property taxes increased is because, during covid, the federal dollars came pouring in, the Legislature started dozens of 'free' programs, and didn't have the intestinal fortitude to stop them when the federal money dried up.

@saintpreferred9223 5 дней назад

The joke is on you, you're living in CA. You must be a Dem.

@pkicng210 7 дней назад

In a lot of areas in CA, the prop 13 property tax at 1% ad valorem, were tacked on another 1% to no more than 1.5% of the ad valorem when you first purchased the property. Then they calculate the new tax each year based upon that prop 13 and the Mello Roos tax. So your property TAX increases 2 to 2,5%. The idea for the MR is to encourage building (and dust). So when you buy a property for seniors to move in , the Mello Roos tax will be assessed. Now if the old house did not have a MR tax, will the new residence have one? if so 1-1.5% of the value of the new home? No wonder there is a mass exodus egress of people out of CA. I always thought that us seniors must sell our homes and when we move to another newly purchased home (has a higher fair market value than the sold home).

@frankkrupinski1764 28 дней назад

You guys voted them in

@crapphone7744 21 день назад

I haven't voted for a single one of the morons currently running my state.

@WilliamMurphy-uv9pm Месяц назад

No one would ever "game" the system. Yeah, right.

@californiahandball Месяц назад

Prop 19, @3:49 Then if it's not your primary residence like a rental unit. Then the owner should be allowed to bring the rents to current market value! That's only fair.

@jeffarcher400 24 дня назад

I believe there's a cap on rent increases. Yes it's not fair and they're going to get the house on the market or get the huge taxes...or both if you sell.

@tonygoulart3693 11 дней назад

Guaranteed rental increases yearly because of rhis Prop 19. Great News for long time landlords.

@blkcoupequattro Месяц назад

Not a problem moving to a location where tax is .0298 percent...

@timeisshortppl Месяц назад

Father in laws home in Hemet was in a revocable living trust, he died July 2023, the home was sold in January 2024. We were shocked that the property tax for the seller was reassessed to selling price. Prop 19 sucks. It needs to be modified. What is the use of the trust , doesn’t avoid higher taxes. What would have been better than a trust?

@222mrobin Месяц назад

Same here, my mom died last year and we just sold the house. Her taxes were $900 a years and we got hit with a $7,300 tax bill!

@mam564 Месяц назад

The trust saves you from the delays and expense of probate. It doesn't save you from having the property reassessed at the stepped up bases. You have to move into the home and establish it as your primary residence in order to inherit it without having the taxes raised.

@breezybird403 Месяц назад

@@222mrobinWas that just for one year, since the residence was sold? If it is sold, the buyer takes over the tax payment, as you know.

@willieverusethis Месяц назад

It's always been that way. The tax basis has never transferred to a new buyer.

@jeffarcher400 24 дня назад

It had to be in an irrevocable trust before a certain day and the government is trying to get around that now.

@sgtlz 26 дней назад

Gavin and the dorks in the legislature claim that this law could not be undone.

@desireesakow3626 Месяц назад

What about people who are 55 plus who own a property as their primary residence here in San Diego and then inherit a home from a parent in SD but don’t plan on living in the inherited home and renting it out, does the tax rate stay the same?

@jeffarcher400 24 дня назад

Nope. They have to move in immediately to avoid step up and can at least keep their old house and rent it. Their kids will get the shaft unless they move in immediately after death.

@ruthfu751 28 дней назад

Nobody likes to pay higher taxes. However, where the funds come from? Who is going to pay for. The local school? Who is going to pay to maintain the public roads?

@robertkarp2070 22 дня назад

We can all thank Gavin Newsom for that, now you know why so many people are leaving California than there are moving in.

@PDeker 13 дней назад

Sure, lets screw the hard working people of CA because it needs more money to take care of millions of people that came in illegally. Just imagine how much this is costing us considering we have the 5th largest economy in the world and our Governor has to scoop to these low levels to help pay for it all.

@lamont5050 Месяц назад

Blame Newsome and the democratic party in Cali.

@maryclebeau 23 дня назад

??? My daughter and my son in law have good jobs and have a great credit scores, however, they have been trying to buy a home, when the interest rate went up, they knew it was impossible to buy! I have a home I have in a Living Trust, with all of the laws changing, I want to leave our home to my daughter and her family when my husband and I pass away. My question is, will they be able to keep the property taxes I currently pay? Of course the raised 2% per year? And if they decide to sell it to purchase their own home with the equity in my home, will they pay taxes on that as income? Not sure of what advice to give them. We are in our late 60’s early 70’s I appreciate any and all advice and feedback. Thank you.

@lilshaz8378 22 дня назад

Does inheriting give the heirs a stepped up value while keeeping the low tax base? Staying in the home for a year under Prop 19 rules and then you decide to sell, can you port that tax base to the new home?

@jazzfan7491 29 дней назад

What these right-wingers (read billionaires who inherited most of their money) call the "death tax" is in fact the estate tax, and is a way of society covering some of the costs of supporting people who never sell assets. The police and fire department, plus the local school, library and park, are not free, though the billionaires would prefer not to pay.

@peterbedford2610 Месяц назад

Get on title. I see it all the time

@gabequezada2066 25 дней назад

what if the owner moved into one of his/her non-owner occupied houses for a few years? Does that make it her new primary residence and does that abate the higher reassessment?

@SolutionsTrust 16 дней назад

dont think moving in as primary keeps same tax just allows you to deduct $1,000,000 from the assessment for the new tax value so in your bungalow example of $1.1M that is great as the assessment is $100,000 BUT say value was $3M then assessment would be $2M ... better but still not what it was under prop 13 !!! Prop 19 needs to be repealed !!!

@youview5023 21 день назад

I have siblings, a brother and sister who are 10 years younger, but I believe from what this says it will not help because they are not my son or daughter..?

@maneki9neko 11 дней назад

Useful.

@ProbateandTrustHelp 10 дней назад

Glad you think so!

@ryderray2720 Месяц назад

property tax increasing is criminal

@jimba6486 8 дней назад

Property Tax was created a 1000 years ago by William the Conqueror (first British King), or as I know him, the King of Feudalism. Let that sink in for you.

@urshuwyler8509 16 дней назад

Hi what are the taxes after passing with a trust when are no taxes in a mobile home just Dmv fees? Txs urs h

@ProbateandTrustHelp 15 дней назад

I suggest speaking with a tax advisor to get a clear idea of this, as I don't handle mobile home sales. Thank you for watching and commenting.

@brocluno01 23 дня назад

Our son is deceased. Can his daughter inherit and move in for one year to keep the Prop 13 benefits ?

@Derek_Wong 22 дня назад

If I place my mother into assisting living facility and she passes, do I as the child/property still under prop13?

@LWRC Месяц назад

This is what liberal insanity has done to people of Kalifornia!!!

@RichFlemingRealtor Месяц назад

What's insane about this?

@timeisshortppl Месяц назад

@@LWRC I agree with you, it’s commiefornia now. I am a 75 yr old native. These bleeding heart liberal tack on junk to bills and the general population has no idea. Prop 19 needs a reform.

@moorefacts6605 Месяц назад

Read it and weep MAGA; The states with no state estate tax as of mid-2023, are Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Michigan, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, ..

@elbi2347 Месяц назад

@@moorefacts6605 how idiot can you be. You clearly don't watch the video

@willieverusethis Месяц назад

It's pretty reasonable for people who inherit property to have to pay the same property tax as someone who buys it.

@toasgreece Месяц назад

All of Californias empty houses are a problem for inventory and affordability.

@ProbateandTrustHelp Месяц назад

We really don't have very many empty houses in San Diego and we still have low inventory.

@toasgreece Месяц назад

@@ProbateandTrustHelp in Santa Cruz there are many

@jeffarcher400 24 дня назад

That's why they let squatters break in and stay. Keep it rented or you could lose everything.

@matthewmarkiewicz4056 24 дня назад

Don't ask me what I want it for (Ah, ah, Mr. Wilson) If you don't want to pay some more (Ah, ah, Mr. Heath)

@jeffarcher400 24 дня назад

Glue the pennies on your eyes.

@user-ki1gu2ut8t 27 дней назад

Does the tax go up after a child stays in the property for a year? Or is that the only thing someone has to do? I think over one million it's moot. So I'm asking if before it hits a million.

@georglimiux677 Месяц назад

Ef Kalifornia. no wonder theres so many homeless...

@kevinwiechmann787 28 дней назад

they will tax you for thinking very soon and still won’t be able to balance a budget !

@cvcoco 19 дней назад

Do you deal with capital gains issues too?

@ProbateandTrustHelp 18 дней назад

I'm sorry, do you mean me specifically, or the state of california?

@cvcoco 10 дней назад

@@ProbateandTrustHelp I mean you. We should probably have a conversation asap.

@user-py1jt2gi5s 15 дней назад

Talk about stealing from the deceased wishes the government has no shame

@gettingseriousgettingolder3011 25 дней назад

What happens if the person/child moves out after a year. Does the property get reassessed then.

@jeffarcher400 24 дня назад

Yes

@michaeltobin2172 14 дней назад

"Death Tax" huh. It is property tax that changes with ownership and property value. Freezing the rate with Prop 13 was the original error, not that the idea was bad, just not well thought out, and not sustainable.

@nitahiltner3348 29 дней назад

What happens after a year?

@user-rh9vb7nj1f 25 дней назад

Let’s tax lawmakers every time they take dump in the toilet.

@cptr 24 дня назад

Excellent!! So glad that they are finally taxing inherited wealth

@MarcMallary 13 дней назад

Thanks.

@colt10mmsecurity68 26 дней назад

I thought prop 13 put a 1% cap on property tax, not 2%. Am I wrong?

@jeffarcher400 24 дня назад

Prop 19 was a sneaky way to destroy prop 13.

@lettruthprevail9820 Месяц назад

It was not clear to me. Do they have to move in for a year before the person dies or after?

@jeffarcher400 24 дня назад

Forever.

@viffer94 25 дней назад

I voted against this proposition back in 2020 but I suppose people are stupid and like to pay thousands of dollars in extra property taxes every year.

@michaeltobin2172 14 дней назад

I (and most of us) do pay those high taxes because my father didn't buy the house back when taxes were low...so how is that stupid?

@Lokie-cd2hw Месяц назад

Why do property taxes have to be so excessive in California? Who is getting the benefit of these high taxes?

@snoopyloopy 29 дней назад

Property taxes are excessive in California?

@BlowitAllUp 29 дней назад

Not the taxpayers that’s for sure.

@marthar6491 24 дня назад

If you are inheriting a house free and clear, paying extra property tax is not that burdensome

@empressnampreti1174 24 дня назад

What is this band in the background playing? I can’t barely follow what you’re saying.

@ProbateandTrustHelp 24 дня назад

thanks for letting us know, we will adjust in future videos.

@jamesmeegan9284 24 дня назад

Once upon a time, 1400AD, there was a King and sent His Constubal out to collect Taxes. However, the citizens didn't have enough to satisfy the King. So, the King sent out His Constubal again, but this time He told the Constubal to take the farmer's Pig. The farmer replied; "if you take my Pig...I will not be able to feed the King." The Constubal being concerned said; "what?" The farmer explained that the Shit Sandwiches that He has been feeding the King...come from the PIG😂😂😂😂😂😂😂😂

@susanlovesjava4961 Месяц назад

You know just enough to be misleading.

@altonjackson855 Месяц назад

Great info but you took way too long long to get to info that people need gotta go

@billjacobi9764 7 дней назад

PROPERTY PAID IN FULL SHOULD NEVER BE TAXED. RIDULOUS.

@jessicamasonsonneborn4864 Месяц назад

This is one of the reasons I don’t like in California anymore!!!!!

@michaelmaas6460 22 дня назад

On no, someone who gets a property for free is going to have to pay the same property tax as someone who buys it with their own hard earned money? How faIr is that?

@michellejoy6752 Месяц назад

What if you add a adult child’s name to the title that is not residing at the property? Would this enable the kids to keep the taxes at the original amount?

@ProbateandTrustHelp Месяц назад

Michelle, good question...again, I would reach out to the SD county tax assessor for accurate information. I'd also be cautious about adding just one of the potential beneficiaries to the deed.

@willieverusethis Месяц назад

Adding a child could spark a reassessment while you are living there. I'd be very careful.

@michellejoy6752 Месяц назад

@@ProbateandTrustHelp true, even though my three kids are best friends to this day (36,38, and41). Some families will cut each others throats in these matters, but with my kids, if I only put one name down with a verbal understanding it goes to all three, I can see hurt feelings as to why mom chose the one child’s name over the other 2. I would rather avoid that. Thank you for your kind reply

@jumperstartful Месяц назад

@@michellejoy6752 Believe me everything changes when there is a will!!!

@costcontrolaccounting4613 23 дня назад

Leaving a state of madness seems like the sane thing to do.

@michaelparks5669 7 часов назад

you need to sell your home and leave California as I did. The state has become a nightmare to live in.

@AmericanPatriot-1776 20 дней назад

The background "music" droning on in the background of your video was horrible. I couldn't get past the first minute before getting frustrated.

@ProbateandTrustHelp 18 дней назад

thank you, I'll remember that when editing our videos in the future.

@godfreydsouza3741 12 дней назад

Newsom is doing good. 😢😢😢

@briangarnier5714 25 дней назад

Washington has a 1% land tax without a prop 13 and they have no state income tax. People vote in special assessments that can go up into the 1000's.. currently l pay am extra 1000 dollars a year on top of my land taxes. I don't know how eashington does it but prop 13 isn't the problem.l voted against it because it included property that corporations owned. I don't think the7 should have been included. There are plenty of states with liw land taxes and they do fine. And yes you can point out some red states that tax low but they also offer very little help to their peopel either, so stop now.

@mikeysauce393 Месяц назад

Kim is verry pretty. Thanks

@mitchellsmith4601 28 дней назад

Proposition 19 was put into law, as all California propositions are, by voters, NOT the legislature. This is one more argument against democracy: the people did this, not their elected representatives.

@michaeltobin2172 14 дней назад

Or is it an arguement for democracy? Why should the family have discounted taxes forever compared to other people who buy homes in the current market? Mostly they turn them into short-term-rentals anyway. Prop 19 makes the field a bit more level if they aren't going to continue living in the house, or at least uphill the same for all.

@akshonclip 11 дней назад

@@mitchellsmith4601 You both have no idea how the rental market works. Tax increases get passed onto renters.

@fattyjaybird7505 11 дней назад

Cant pay your high property taxes? Now youre homeless, which is now 'illegal'?

@albertinsinger7443 13 дней назад

California used to be paradise back 50 years ago. Now I live out side the US in an other Paradise, low taxes, no weirdo woke stuff, stable prices, people nice , Republican, and lots of freedom.

@IntuitiveInterpretations 7 дней назад

El Salvador ? Hungary?

@albertinsinger7443 7 дней назад

@@IntuitiveInterpretations none of those. I am not telling anyone. Else they will come and ruin the place.

@dianeorrleflang 4 дня назад

I understand 100%

@sheldoninst 23 дня назад

You never mentioned what happens if the property loses value!!

@michaelmaas6460 22 дня назад

When that happened to me I applied for and got a tax reduction.

@sheldoninst 22 дня назад

@@michaelmaas6460 I certainly hope so, but unfortunately one has to go and make the request and *hope* the govt agrees and complies.

@WWPlaysHoldem 13 дней назад

Stop being a crybaby. When you inherit a property why should you get a financial advantage over new home buyers who are carrying the burden of funding the government. You can sell the property if you do not want to pay the higher rate.

@taurusrush420 10 дней назад

Hmmm... and who will buy that home? Perhaps an overseas buyer/investor group that may have supported our governor? Are you seeing it now? It's... happening...

@nickthinkpainting1978 Месяц назад

It still baffles me how California doesn’t have more homelessness…Crazy tax , regulations, anti business….

@willieverusethis Месяц назад

Prop 13 protections have made middle class homeowners in CA into millionaires. We pay less in property taxes than just about anyone else in the country, and our property values have skyrocketed, making us rich.

@nickthinkpainting1978 Месяц назад

@@willieverusethis no shit that’s the first time I ever ever heard that. Certainly not from the friends I have who live there. 🤔🤔

@snoopyloopy 29 дней назад

Probably because the fearmongering spewed by certain media outlets isn't accurate.

@od1452 Месяц назад

Why are you talking about others states ... this could have clear and easy..

@mikegarrens5286 23 дня назад

In life nobody rides for free!!!!

@GeorgeMiller-v5u 23 дня назад

Greetings beloved 💕I hope you don’t feel I’m bothering you,I can’t just inbox for no reason,if I’m permitted i can tell you what I sensed

@o.b123l7 27 дней назад

"Why do we have to pay to live on a planet we were born on?" - Alex Collier

@territepper2779 5 дней назад

Intentionally complicated theft.

@BlindSquirrel425 Месяц назад

Yikes!

@thefngrinch Месяц назад

Newson for president, let's bring California policies to the whole nation!

@BSLO48 26 дней назад

Yes, it would be nice for all the states to have the wealth that California has. Teslas everywhere you look and crowded clubs and fine restaurants. California, the 4th largest economy in the world. It is not easy to manage a giant diverse state where one out of eight American citizens live, 40 million people. The vast majority of California's population is doing very well. We are overpopulated so I'm happy that the other states will be sharing more of the country's population.

@seamac7564 15 дней назад

Another scam and tax on something that's already been taxed....

@johnherr158 8 дней назад

Sell the Bungalow

@dkorb2739 24 дня назад

If your taxes are too high; lower them Otherwise stop giving a select few loopholes to lower them

@richardfleming2850 Месяц назад

Why should those that inherit a property they don't live in and did nothing to earn, inherit a low property tax basis?

@timeisshortppl Месяц назад

@@richardfleming2850 it’s called an inheritance. You must be a tax guy. The new owner should have taxes set at the new selling price, with prop 19 the seller ( trustee or for the heirs) shouldn’t have to pay tax on current sales price. Look at prop 19. It’s a bad bill.

@jerryf6581 Месяц назад

Why should the government even tax our properties?

@timeisshortppl Месяц назад

@@jerryf6581 Bingo

@RichFlemingRealtor Месяц назад

@@jerryf6581 ... what are the acceptable things for government to tax in your opinion?

@RichFlemingRealtor Месяц назад

@@timeisshortppl ... you're inheriting the property. From a policy perspective, what's the benefit of allowing inheritors to keep a low tax basis on a non-primary residence? Prop 19 isn't a bill. It's a law.