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Flylady · 01-13-2008, 12:43 AM

Correct...prop 13's biggest benifit is that you know when you buy your place exactly what your property taxes will be. So many spend a higher percent of their household income on mortgage payments because they know what their obligation will be. HOWEVER....we have sales tax (anywhere from 5 to 81/2 %)depending on the county you live in and we have a state income tax. However if you are a property owner the tax on your income and sales tax is known and something as long as you work and make spending decissions you have more control over. Even though I also have a place in NH and plan to retire there, the property tax on the very small lakefront parcel I have is the same as my CA house which I paid a lot more for than the NH place. My worry as with many others in NH is that once I am on a fixed retirement income, the largest wildcard factor is my tax obligation on the property. No state income tax or sales tax is not the reason I decided to make the move.
BTW Ca. governer just cut a huge amount from the budget (billions) because of revenue shortfall from the changing economic climate. No tax increase to offset the huge deficit. While many are unhappy as it will impact many social service programs, I have not heard a peep about raising taxes and suspect that in this election year that will not be a discusion topic in CA.

01-13-2008, 12:43 AM	#5
Flylady Senior Member Join Date: Apr 2006 Location: So. California & Lakes Region Posts: 256 Thanks: 225 Thanked 106 Times in 61 Posts	California Correct...prop 13's biggest benifit is that you know when you buy your place exactly what your property taxes will be. So many spend a higher percent of their household income on mortgage payments because they know what their obligation will be. HOWEVER....we have sales tax (anywhere from 5 to 81/2 %)depending on the county you live in and we have a state income tax. However if you are a property owner the tax on your income and sales tax is known and something as long as you work and make spending decissions you have more control over. Even though I also have a place in NH and plan to retire there, the property tax on the very small lakefront parcel I have is the same as my CA house which I paid a lot more for than the NH place. My worry as with many others in NH is that once I am on a fixed retirement income, the largest wildcard factor is my tax obligation on the property. No state income tax or sales tax is not the reason I decided to make the move. BTW Ca. governer just cut a huge amount from the budget (billions) because of revenue shortfall from the changing economic climate. No tax increase to offset the huge deficit. While many are unhappy as it will impact many social service programs, I have not heard a peep about raising taxes and suspect that in this election year that will not be a discusion topic in CA.