Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

Thanks for checking my math Zack - you are correct. I thought I read $30,000 in taxes and assumed he had a home worth around $5M but assessed around $2.5M.
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Just found this on another web site:

From an article in Wall Street Journal Friday Aug 15 on Warren Buffet being Arnold's financial advisor:

"Mr. Buffett...took on California's famous Proposition 13, which has limited property taxes there since 1978."

"[Warren Buffet's]home in Omhaha, he said, is valued at roughly $500,000. His current yearly property tax bill on that home: $14,401. In California, he owns a Laguna Beach home valued at $4,000,000, or eight times as much. The annual property taxes on that home are just $2,264--a fraction of what he pays in Omaha."

I believe property taxes in Laguna Beach are about 1% so this means that he probably paid about $100 - $150K for his home some 30 years ago or so and 2% a year on the assessed value at $226,400 on the tax rolls. Wow, there's a deal for you!!!