Hi friends, was this video helpful? Please leave a comment below so we can make more practical videos about Prop 19 and how to avoid potential property tax increases!
Should the parent reside in the same home with the child so that the parent can transfer the primary resident home to the child in an event when the parent dies? How should the parent prove to be the primary resident for the home? Does the parents' address on the tax report form prove enough to prove as their primary resident? What happens if the home is above $1mm? How will this home reassessed at $1mm?
Thank you for sharing your testimony. I am in this Prop 19 conundrum and have been told by a couple of attorneys that I will get the exclusion and by another that since I am not the only named beneficiary of the trust estate that this exclusion might be only be a percentage. The house is currently my principal residence. Thoughts??
@@JosephLee2012 This old man says it's a Limited Liability Company for people who want to spend their lives hiding from widows and orphans and running from slips and falls.
Thanks for the information from a fellow sinner. We don't deserve his mercy but he gets it to us anyway when we strive to live by his ways. God bless you and yours.
There is proposition to remove a portion of prop 19 and reinact previous props that allowed inheritance without reassessments if parent to child or grandparent to grandchild.
You know most states don't protect the original buyer from increasing property tax let alone the buyers kids right? If your kid gets a free house and can't pay the new tax rate then they just got a bunch of cash for free.....that's not crazy...
@@vram5717 Thank you. I have been friends who work for the state & local gov. I learned many terrible stories how wasteful & inefficient our gov run. Just look at all of the state programs & most of local public school how terrible they are run, the bigger the gov the more corrupted it has become.
Hi Ed.. thanks for this, it really helps especially here in communist Kalifornia. I'm buying a second home in Nevada to get away from all this crazyness here in Kalifornia. I'm new subscriber. Thanks for the Bible verse. Love it!
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Our house went up $300 from last year because the value went up too, they deliberate doing this to generate high taxes. Gladly we paid off our house two years ago but $1600 a year is hurting now.
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Thank you for this helpful video. Is there a way to transfer my primary to my kids before death and also avoid reassessment? My primary is also their primary. And we’re located in the sf Bay Area. Thank you 🙏🏻
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My dad's home was left to me and it will be my primary residence and so there won't be a reassessment. But what if later on I want to turn it into a rental property? I'm guessing that will trigger a reassessment?
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Thank you very much for the detail video. I have a question, bought my house in 1998 for 166k, now value at 900k (primary resident). Property tax is around 4k/year. We're planning to sell it and purchase another house for 1.1 million. Understand I'll pay the add-on property tax for the differences (200k). Say we passed away 20 years later, property value at 1.5 million, what will be the approx property tax my child has to pay? (i'm confuse about 1 mil limited). Thanks in advance.
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What happens if the assessed value at time of death is 500k and over the length of time becomes assessed at 1 million? Does prop 19 still kick in at the time?>
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Thank you for the info, invaluable! God Love You... thank you for the closing witness to Our Lord, Jesus Christ. ... and BTW, we all get upset and lose control sometime... its ok... go back to her, apologize with love, and hug her... and talk about what brought you to that point... so that she understands also. HAVE AN AMAZING DAY ...
My parents have my sister on their deed with the understanding that they were tenants in common but it turns out they were joint tenants. When they made a living trust for their portion of the property it triggered a supplemental tax. Does this make sense when they didn’t transfer the property and they reside at the property?
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What a bunch of slimeballs the group of realtors did to con the public for prop 19. Karma is a bit&h though. Now there going to reduce the the selling commission of 6%.
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So what do I do now. Cinerio is I bought in 2yrs ago. Mortgage went down. But then drastically went up due to taxes use to be bout 800 now went up to 4k.ugh! What can I do in California. Please help because I am having trouble paying way more Mortgage than I had. Anything helps. I appreciate it. And thank you for the info
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To Zeusvaldez. I don’t believe your increase is from property taxes. Prop 13 doesn’t allow for such property tax increases. You need to compare your mortgage statement from when it was lower and compare to now. Check your interest rate. It is perhaps Adjustable and not Fixed. Interest rates have been increasing so that’s why your mortgage payment has gone up. You have to look into perhaps refinancing to a fixed rate. You’re stuck at the current amount though. When interest rates go down then you can perhaps refinance again. You can do so at no cost. The interest rate isn’t as good. Also, to help ease your current situation, see if a family member wants to move in and pay rent. Use that rent money to pay down your loan balance more. Good luck.
#2 reads if the house assessed value is less than $1m. Question: is that the assessed value that the parent's assessed value that is on the assessor's book when the parent died or is it the current market? Example: I've owned a house since 1987. Paid $215k for it, over the next 30 years its assessed value increases 2%/year thus on the assessor's books, it will show $215k + .02 * 30 * 215k = $344k this is the assessed value while I am alive. So I die, the house is worth $1.2m thus if sold the assessed value would be $1.2m. Which assessed value is used for Prop 19 determination? $344k or $1.2m
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How can we keep the county from trespassing against our will, in order to send us a higher property tax bill? This home they ignored the signs and we expect that to happen again. We bought a home for 87K because that's our entire savings, we need out of this Mortgage we are behind on.
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hopefully no more property tax or simliar to Hawaii low rate-0 05% . From observation , US is good place cut the govt want to stress you out, so no way I will retire in US.
This is ridiculous lol. Most states don't even have prop 13 type protection. It should not get passed to your kids. You can't have a house pass down 4 generations and be paying taxes on $15k. If your kid isn't living in the house you left them they should sell it or pay the right taxes based on current value.
There needs to be a reasesment every 5 years and property taxes need to be ranked based on size and income. No more this stupid $50mill estates paying $5000 in property taxes. These oligarchs need to pay the fair share. AND YES IF YOU CANT PAY YOU NEED TO SELL OR DO SOMETHING ELSE - business, rent, loans - lots of stuff you can do.... Paying TAXES is not BAD...we ALL benefit from this common good.
No you are wrong. The only ones who benefit are the greedy politicians and government workers who get paid outrageous salaries and pensions. CA needs to lower taxes. You think Democrats are helping then please explain how the Black population has gone from the national average of 12% to now less than 5% in California. Compton and Watts has changed from Blacks to Latinos. Explain why the $1 million exemption was eliminated by Democrats. Why apply this to all. You won’t answer.
So I bought my house in 1987, paid $215k. My tax bill then is $215k times 1% or $2,150. Prop 13 and 2% increase limit, end of 30 years my tax bill is say $3,300. Fine, I paid the 1% at the beginning and now 30 years later, I have the benefit of lower prop taxes of $3,300. I paid my dues and held on thick and thin. Now I die, my kids get the house that is worth $1.2m. Wow lucky them. And sure they are going to complain that their prop tax bill will be $1.2m times 1% but hey, they have a house that is worth 100 times that single year's property tax bill. It was through MY action of holding onto the house for 30 years that I got the lower prop tax, it had nothing to do with what my kids did. Prop 13 was NEVER intended to go from one generation to another, it was meant to protect the current home owner from prop tax hikes while they owned that property. One final item, for apartments and income property being valued using a 5% cap rate, invert the 5% and one gets 20. A one dollar change in Net Operating Income will lead to a $20 value increase in property. In all my years in CRE, not once have I heard a property owner say, well with the lower property taxes, I guess I should charge below market rent---NOT ONCE. And now to let a property owner pass along the benefit of Prop 13 to their kids is greed. The kids have a property that is worth a ton more than what the parents paid for it, the parents should get the benefits of Prop 13, NOT THE KIDS
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All the INFO you provided was valuable until you brought GOD the father into it. It's your platform however...I really just wanted to be informed re: CA 19. Thank you...While I believe YESHUA rules and MORE importantly the MOTHER MARY, I won't be back.
Any kind of faith is better then non! We all come from the same source and gave it different names! This is what unites all humanity! Looking from that angle life on our beautiful planet Earth could be beautiful! We have to many divisions and we are a bunch of warring tribes! Majority of wild life kills when hungry,we kill for for many other reasons! Believing in something higher then ourselfs puts love and faith in our hearts! We will never ascend to the level of humanity we are capable of but it’s worth trying! I fear we will destroy ourselves as we have enough to destroy Mother Earth many times over!🙏🙏🙏
Hi friends, was this video helpful? Please leave a comment below so we can make more practical videos about Prop 19 and how to avoid potential property tax increases!
I am a trustee/beneficiary seeking to transfer property to me. I think this was helpful
Should the parent reside in the same home with the child so that the parent can transfer the primary resident home to the child in an event when the parent dies? How should the parent prove to be the primary resident for the home? Does the parents' address on the tax report form prove enough to prove as their primary resident? What happens if the home is above $1mm? How will this home reassessed at $1mm?
What is a LLC?
Thank you for sharing your testimony. I am in this Prop 19 conundrum and have been told by a couple of attorneys that I will get the exclusion and by another that since I am not the only named beneficiary of the trust estate that this exclusion might be only be a percentage. The house is currently my principal residence. Thoughts??
@@JosephLee2012 This old man says it's a Limited Liability Company for people who want to spend their lives hiding from widows and orphans and running from slips and falls.
Thanks for the information from a fellow sinner. We don't deserve his mercy but he gets it to us anyway when we strive to live by his ways. God bless you and yours.
Thank you for this video that we have an insight of Prop 19. God bless you and your family.
You are welcome. Glad it was helpful!
What a beautiful way to be a witness for Christ. Thank you
You are welcome. God bless.
There is proposition to remove a portion of prop 19 and reinact previous props that allowed inheritance without reassessments if parent to child or grandparent to grandchild.
What proposition is that to remove a portion of prop 19 please and was that voted on already?
It didnt get the signatures so.not on the ballot
What if the children have always lived in the home since birth.
That is true. Check out property tax laws at san diego county assessor.
True. I was san diego county realty appraiser. It's a good law imho.
Sending prayers your way for you and your family.
God bless!
Great explanation for Prop 19. Thank you. Blessings to your family.
Glad it was helpful!
Prop 19 is insane; people of California still has not learned giving more money to Gov would only create MORE problem!
Most California voters don’t think before voting.
You know most states don't protect the original buyer from increasing property tax let alone the buyers kids right?
If your kid gets a free house and can't pay the new tax rate then they just got a bunch of cash for free.....that's not crazy...
I voted no on this. I work for an Assessor's office by the way.
@@vram5717 Thank you. I have been friends who work for the state & local gov. I learned many terrible stories how wasteful & inefficient our gov run. Just look at all of the state programs & most of local public school how terrible they are run, the bigger the gov the more corrupted it has become.
When people voted for proposition 19 they voted "yes" because they had no idea, they made it so confusing.....🤨🤨🤨
Hi Ed.. thanks for this, it really helps especially here in communist Kalifornia. I'm buying a second home in Nevada to get away from all this crazyness here in Kalifornia. I'm new subscriber. Thanks for the Bible verse. Love it!
You are welcome. Glad it was helpful!
I am glad I found this channel.
Fantastic Sermon!
Thank you and God bless.
Proud of you for admitting that you were not kind to your wife. Pray for patience. A video about LLCs would be great!
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Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
Anonymity thieves steal LLCs unless it's a NICER Legalese Arbiter Interdiction Administration Lawyers Crime Enforcement Regulatory Recorded and Monitored LLC
Excellent information, thank you!
You are welcome!
You can create a trust with primary,investment..
Prop 19 is causing rents to go up on small complexes! Creating homelessness!
God bless you kid, You have me for your student.
Thank you and God bless!
Our house went up $300 from last year because the value went up too, they deliberate doing this to generate high taxes. Gladly we paid off our house two years ago but $1600 a year is hurting now.
$300 or $300K?
Thank you very much for sharing. We have missed filling the prop 19 application date , is there a way to fight for it?
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
Thank you for this helpful video. Is there a way to transfer my primary to my kids before death and also avoid reassessment? My primary is also their primary. And we’re located in the sf Bay Area. Thank you 🙏🏻
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
God Bless You and your family ....🙂
Thank you. God bless you and your family too.
The portion of prop 19 that is good will stay intact
Thank you
You're welcome!
Great info! Thanks
Glad it was helpful!
My dad's home was left to me and it will be my primary residence and so there won't be a reassessment. But what if later on I want to turn it into a rental property? I'm guessing that will trigger a reassessment?
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
Thank you very much for the detail video. I have a question, bought my house in 1998 for 166k, now value at 900k (primary resident). Property tax is around 4k/year. We're planning to sell it and purchase another house for 1.1 million. Understand I'll pay the add-on property tax for the differences (200k). Say we passed away 20 years later, property value at 1.5 million, what will be the approx property tax my child has to pay? (i'm confuse about 1 mil limited). Thanks in advance.
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
@@treeoflifelawfirmthank you
What happens if the assessed value at time of death is 500k and over the length of time becomes assessed at 1 million? Does prop 19 still kick in at the time?>
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
Thank you for the info, invaluable! God Love You... thank you for the closing witness to Our Lord, Jesus Christ. ... and BTW, we all get upset and lose control sometime... its ok... go back to her, apologize with love, and hug her... and talk about what brought you to that point... so that she understands also. HAVE AN AMAZING DAY ...
Glad it was helpful!
My parents have my sister on their deed with the understanding that they were tenants in common but it turns out they were joint tenants. When they made a living trust for their portion of the property it triggered a supplemental tax. Does this make sense when they didn’t transfer the property and they reside at the property?
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
you need to increase your talking voice volume when you edit videos. It's softer than most other videos on YT
Thanks for the feedback
Yea, I’ll just write a $5,000 check.
What a bunch of slimeballs the group of realtors did to con the public for prop 19. Karma is a bit&h though. Now there going to reduce the the selling commission of 6%.
That’s right 😂😂😂
Hi Yan ! you the home is paid off over a 1 million will the child still be re assessed for higher taxes???
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
So what do I do now. Cinerio is I bought in 2yrs ago. Mortgage went down. But then drastically went up due to taxes use to be bout 800 now went up to 4k.ugh! What can I do in California. Please help because I am having trouble paying way more Mortgage than I had. Anything helps. I appreciate it. And thank you for the info
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
To Zeusvaldez. I don’t believe your increase is from property taxes. Prop 13 doesn’t allow for such property tax increases.
You need to compare your mortgage statement from when it was lower and compare to now.
Check your interest rate. It is perhaps Adjustable and not Fixed. Interest rates have been increasing so that’s why your mortgage payment has gone up.
You have to look into perhaps refinancing to a fixed rate. You’re stuck at the current amount though.
When interest rates go down then you can perhaps refinance again. You can do so at no cost. The interest rate isn’t as good.
Also, to help ease your current situation, see if a family member wants to move in and pay rent.
Use that rent money to pay down your loan balance more. Good luck.
Hello, what languages does your office speak? And are you able to service remotely (zoom, etc) as I’m in Southern California.
Hi Toby. Yes we can help you. Please visit our website www.treeoflife.legal to book a free phone consultation.
Don't transfer a home to your kids when your living because when you die there spouse will be entitled to the house during divorce 😂😂😂
Great point and they lose the step up value!
#2 reads if the house assessed value is less than $1m. Question: is that the assessed value that the parent's assessed value that is on the assessor's book when the parent died or is it the current market?
Example: I've owned a house since 1987. Paid $215k for it, over the next 30 years its assessed value increases 2%/year thus on the assessor's books, it will show $215k +
.02 * 30 * 215k = $344k this is the assessed value while I am alive.
So I die, the house is worth $1.2m thus if sold the assessed value would be $1.2m. Which assessed value is used for Prop 19 determination? $344k or $1.2m
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
So your heirs will have to pay taxes on market value like everyone else. Friends, that's how it works in every state.
How can we keep the county from trespassing against our will, in order to send us a higher property tax bill? This home they ignored the signs and we expect that to happen again. We bought a home for 87K because that's our entire savings, we need out of this Mortgage we are behind on.
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
@@treeoflifelawfirm Thank you! God Bless
Amen 😇 🙏 Amen , 🙌 🙌 🙌 🙌
This is going to put more people on the street. Smart move!
Maybe, if they live in the property that they'll inherit. Most will just sell, which is what the big investment firms want to happen.
hopefully no more property tax or simliar to Hawaii low rate-0 05% . From observation , US is good place cut the govt want to stress you out, so no way I will retire in US.
gov is so evil to do this
The people of California are so stupid to vote for this prop
PTL.
Thank you
You are welcome. God bless.
Gods,in His Almighty power bless you, your career, your family and your dreams.
Thank you. God bless you and your family too!
Hello, Friend. Please record your audio louder next time.
Thank you for the feedback.
This is ridiculous lol. Most states don't even have prop 13 type protection. It should not get passed to your kids.
You can't have a house pass down 4 generations and be paying taxes on $15k.
If your kid isn't living in the house you left them they should sell it or pay the right taxes based on current value.
There needs to be a reasesment every 5 years and property taxes need to be ranked based on size and income. No more this stupid $50mill estates paying $5000 in property taxes. These oligarchs need to pay the fair share. AND YES IF YOU CANT PAY YOU NEED TO SELL OR DO SOMETHING ELSE - business, rent, loans - lots of stuff you can do....
Paying TAXES is not BAD...we ALL benefit from this common good.
No you are wrong. The only ones who benefit are the greedy politicians and government workers who get paid outrageous salaries and pensions.
CA needs to lower taxes.
You think Democrats are helping then please explain how the Black population has gone from the national average of 12% to now less than 5% in California.
Compton and Watts has changed from Blacks to Latinos.
Explain why the $1 million exemption was eliminated by Democrats.
Why apply this to all. You won’t answer.
God Bless You Brother... Give Your Wife a Foot Massage
So I bought my house in 1987, paid $215k. My tax bill then is $215k times 1% or $2,150. Prop 13 and 2% increase limit, end of 30 years my tax bill is say $3,300. Fine, I paid the 1% at the beginning and now 30 years later, I have the benefit of lower prop taxes of $3,300. I paid my dues and held on thick and thin.
Now I die, my kids get the house that is worth $1.2m. Wow lucky them. And sure they are going to complain that their prop tax bill will be $1.2m times 1% but hey, they have a house that is worth 100 times that single year's property tax bill.
It was through MY action of holding onto the house for 30 years that I got the lower prop tax, it had nothing to do with what my kids did. Prop 13 was NEVER intended to go from one generation to another, it was meant to protect the current home owner from prop tax hikes while they owned that property.
One final item, for apartments and income property being valued using a 5% cap rate, invert the 5% and one gets 20. A one dollar change in Net Operating Income will lead to a $20 value increase in property. In all my years in CRE, not once have I heard a property owner say, well with the lower property taxes, I guess I should charge below market rent---NOT ONCE. And now to let a property owner pass along the benefit of Prop 13 to their kids is greed. The kids have a property that is worth a ton more than what the parents paid for it, the parents should get the benefits of Prop 13, NOT THE KIDS
Thank you for reaching out and leaving a comment! We appreciate your interest in our channel. Your question has been added to our list of video topics and we will certainly consider it for a future video. While we can't promise that we'll get to every question, rest assured that we're doing our best to bring you the most relevant and helpful content. Keep an eye out for future videos and keep the questions coming!
Please note that this is not legal or financial advice and we have no legal obligation to answer your questions. Our response is not, nor is it intended to be legal advice, to create an attorney-client relationship between you and Tree of Life Law Firm or any of its attorneys, or to be an offer to create such an attorney-client relationship. The information is provided for general information and educational purposes only and is not a substitute for professional advice. If you need personal legal or financial advice, please consult a legal or financial professional immediately. Do not take any action, postpone any action, or decline to take any proposed action based on this information without first engaging the representation of a licensed attorney at law in your State of residence. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THESE COMMENTS IS SOLELY AT YOUR OWN RISK. God bless.
All the INFO you provided was valuable until you brought GOD the father into it. It's your platform however...I really just wanted to be informed re: CA 19. Thank you...While I believe YESHUA rules and MORE importantly the MOTHER MARY, I won't be back.
Glad it was helpful.
I used to be in your shoes until I realized I had a Father up there in control and row row row my boat gently down the stream enjoying life.
Any kind of faith is better then non! We all come from the same source and gave it different names! This is what unites all humanity!
Looking from that angle life on our beautiful planet Earth could be beautiful! We have to many divisions and we are a bunch of warring tribes! Majority of wild life kills when hungry,we kill for for many other reasons! Believing in something higher then ourselfs puts love and faith in our hearts! We will never ascend to the level of humanity we are capable of but it’s worth trying! I fear we will destroy ourselves as we have enough to destroy Mother Earth many times over!🙏🙏🙏
1M dollar can easily fetch you 10K a month in rental income. That's a lot of new income to still complain about paying taxes?
Unsubscribed as soon as I saw religious content, how is that related to estate planning?
You need Jesus when you die because you can’t take ur property with you.