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CA elite property inheritors protected by tax laws


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2018 Aug 19, 9:06am   1,563 views  3 comments

by BayArea   ➕follow (1)   💰tip   ignore  

https://www.pressreader.com/usa/los-angeles-times/20180819/281487867195699

“But they also benefit from an additional tax break, enacted eight years later, that extended those advantages to inherited property — even inherited property that is used for rental income.
California is the only
state to provide this tax break”

“In Los Angeles County, as many as 63% of homes inherited under the system were used as second residences or rental properties”

Eye opening

Classic case of depends on why side of the fence you are on

Inheritors will believe its a travesty to reset tax bills for family owned properties. Those who aren’t in that position will view it as criminal to have prop13 protection for inherited rental/2nd homes

And CA can continue to pick and choose winners and losers.

Comments 1 - 3 of 3        Search these comments

1   FortWayne   2018 Aug 19, 10:17am  

4 articles in a day. Sounds like government trying to raise taxes campaign has begun.

Every liberal media channel starts propaganda.
2   just_passing_through   2018 Aug 19, 10:38am  

They were successful at getting prop 13 split on the ballot. Simply moving on to the next step after that.

https://sf.curbed.com/2018/8/15/17693392/prop-13-california-split-roll-signatures-tax-vote
3   Ceffer   2018 Aug 19, 12:29pm  

ASSHOLES!

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