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Originally Posted by 10fords
Bot- what are the property taxes like in LA? I am also debt free, and own 2 houses, but the property taxes in California are rising every year despite the drop in property values. They keep adding "fees" and I don't see how I will be able to keep up if I ever retire. I was 42 when I realized my dream of owning a home outright, and thought I would never have to worry again, but 8 years later I am not so sure. I currently pay over 8K a year in property taxes, and with the democratic majority in both houses of the Ca. legislature, it looks like the sky is the limit on new "fees". Recently we got hit with a new "fire prevention fee" of $150 per habitable dwelling for properties in rural areas. This "fee" is supposedly for "fire prevention", but it goes into the states general fund! As I am a Firefighter myself, I am fully aware that my department will never see a thin dime from this "fee", nor will any of the other rural departments in Ca. From what I can see, It is only a matter of time before the state of Ca. basically says "hand over your wallet". Other than the humidity I really liked Louisiana when I was stationed there.
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You have to average the trend of yearly increases in your area and add on what way you think the wind will blow. This increasing property taxes tendancy in many juristictions as I have too noticed is far from funny.
That many areas have expanded their local governments or they have taken on too much debt in our names. Well aware that we property owners are a captive audiance.
You could approach the powers that be and find out if any contigency plans are in place for older or retired property owning people. Our towns locally are being hit hard. Out in the county where we live increases are very moderate. For us retired folk all personal property assesments are capped for years now until the next purchaser gets the properties.
The mill rate can move around but so far is staying pretty stable in our county. We pay less than twenty percent of the towns taxes. Perhaps three miles down the road. The town tried to annex this area but failed. It is felt they would like to try again but at the same time would still expect to fail again now. The county put up a real battle to keep our tax base area. The town is now fully cognizant that the battle would occur again.
The other obvious solution is to find a way to increase your retirement income. Or move to an area that you would feel more financially comforatable in. This problem that has errupted has far from run it's course in my opinion. If our house was inside the local towns limits we would give serious consideration to selling it.