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punkle

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punkle

Re: Newly2b post# 142534

Wednesday, 08/20/2003 3:10:43 PM

Wednesday, August 20, 2003 3:10:43 PM

Post# of 704019
Newly, here's where the discrepancy exists:

"Since taxes are based on the sales prices here..."

My taxes are based on the sales price of 8 years ago, not comparable sales today. As a very clear example, let's say I paid $1 Million for my house in 1995. I can sell it for $2 Million today but I'm only paying property taxes on a value of $1.2M because Prop 13 limits the increase in property taxes no matter how much the true value of the property is.

Hope this clarifies things a bit.
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