Originally Posted by CX500T (Post 3870205)

Now for VA. Per the books, the first $18k is tax free but they've been trying to impute disability as income, I'm currently fighting them on two years of this.

Tax = AGI -$18,000 * 5.85%
($477,600-$18,000)*.0585 = $26,886.60
that's 5.63% effective tax rate.

Originally Posted by OOfff (Post 3870046)

how does this chart notmalize for progressive income taxes? Or how someone with a high property tax relative to income might change this?


it’s rather impossible to make a comparison from california to other states in terms of property tax because of the distortion caused by prop 13. you have $5m homes with property taxes lower than $300k starter homes.

Originally Posted by nene (Post 3870353)

When I lived in CA 17yrs ago, we had three neighbors and all of our houses were within $50K in value of eachother but because of prop 13, one neighbor paid about $5000K in property taxes/fees annually, I was at around $8000 and the newest neighbor to move in was nearly $11000K annually all for the exact same services/schools etc.

Originally Posted by OOfff (Post 3870359)

yep. absolutely idiotic. there are places in beverly hills, newport or palos verdes with 3-digit property tax bills.

Originally Posted by FangsF15 (Post 3870367)

Sounds like folks are pulling up the ladder. Isn't this the same state that effectively has an 'exit tax' for those leaving for greener pastures?

Originally Posted by OOfff (Post 3870375)

sounds scary in a talk radio sound bite, but it’s fairly logical in practice once you understand the loophole it’s designed to close.


also, since none of us make $30m a year, it’s not much to worry about.

Originally Posted by PRS Guitars (Post 3870378)

So, what is the loophole that it's designed to close for those of us not in the know?

Originally Posted by OOfff (Post 3870359)

yep. absolutely idiotic. there are places in beverly hills, newport or palos verdes with 3-digit property tax bills.

Originally Posted by fcoolaiddrinker (Post 3870401)

What are you proposing to replace it with? Complaining is easy. It’s working well for me. 4k property tax on a 1.1 million property I’ve owned and lived in for years. You’re leaving out some details such as it has to be your primary residence.

Originally Posted by OOfff (Post 3870405)

it “works out” for me, too, if i ignore the consequences it brings for those unfortunate enough to be born after me.