Tag Archives: taxes

Don’t Overlook These Home Buying Details

You did your due diligence, inspecting every inch of your future home. The home inspector found no major problems.

You can sign on the dotted line now, right? Not so fast.

Remember your appraiser is not a home inspector.  Contact the appraisers at www.scappraisals.com for your home appraisal questions.

Real estate pros say you have more detective work to do because overlooked details lurk in the fine print or are intangible. Here’s a homebuyer’s checklist:

Noise factor. Check the neighborhood’s noise level at various times of day. Is it on the path of low-flying airplanes? On an ambulance route? Near trains with blaring horns?

“Walk the neighborhood, day and night, weekday and weekend,” said T.J. Rubin, broker at Fulton Grace Realty in Chicago. “You’ll see the restaurant with nighttime deliveries.”

Question the neighbors about frequent neighborhood noises.

If the house is in a homeowners association, you might find clues about noise and disturbances by reading between the lines of board meeting minutes.

“If the (association) has a lot of legal or security service bills, there’s a problem,” said Rubin.

The fine print. A real estate lawyer can be invaluable when it comes time to review the terms of a transaction. Many homebuyers have gotten into trouble because they don’t understand the documents they are about to sign.

Read more at: http://www.chicagotribune.com/classified/realestate/buy/ct-home-0621-homebuying-details-20130621,0,7742170.story

San Diego; Want To Appeal Property Taxes? The County Says The Time is Now!!

San Diego property owners who disagree with their assessed value can appeal it as long as they have information to support a lower value.  Those applications can be turned in to the county tax accessor’s office between July 2 and November 30.  You can request forms by calling 619-531-5777 or visiting www.sdcounty.ca.gov/cob

What kind of information will support a lower value?  An appraisal!!  Contact the appraisers at www.scappraisals.com for your appraisal and value questions.

Might Want to Reconsider an Electric Vehicle; CA to Pay More for Gas with Increased Excise Tax

Californians are conserving fuel and being penalized for it!!!!  We are going to be made to make up budget shortfall for conserving!!!

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As if we don’t already pay enough for gas in California, come this summer we may be taxed on it even more by the state.

The tax Californians pay for each gallon of gas they buy — called the excise tax — is expected to increase 3.5 cents per gallon in July to 39.5 cents per gallon.

The state Board of Equalization — charged with setting the rate since 2010 — will meet Tuesday in Culver City to consider about a 10 percent increase because previous tax collections fell short of budgeted amounts. The excise tax isn’t the only one we pay at the pump. The state also charges 2.25 percent in sales tax, and the federal government charges 18.4 cents per gallon in excise tax.

So how much more will you pay? If you’re like most Americans, you drive an average of 15,000 miles per year. And if you figure you get 20 miles per gallon, that means you’d buy 750 gallons of gasoline. Under the current system, with the average gallon of gas in California costing $4.217, over the year you would buy $3,162 in gas, including $408 in federal and state excise taxes, and about $70 in state sales tax.

That doesn’t include local taxes, like the half-cent San Diego charges. If the California Board of Equalization approves the rate increase, the extra tax would kick in an additional $26.25 over the year.

California’s gas prices are routinely among the highest in the nation, and so is its gas tax.

In a ranking of states released last month, the American Petroleum Institute showed California trailing only New York in combined excise, state and local taxes. Should California’s 3.5 cent increase go through, however, the Golden State would be the most expensive.

The increase would be the second state tax hike Californians would see this year after the passage of Proposition 30, which raised the sales tax a quarter percent. The jump would affect only those who buy regular gasoline.

Those who buy diesel will see a 1.94 percent increase in their sales tax in July, but the excise tax rate — 10 cents — is not expected to increase, a Board of Equalization memorandum says.

The 3.5 cent increase would be the largest since the state Legislature switched the gas-taxation system in 2010, when it lowered the sales tax to 2.25 percent from 8.25 percent. At the same time, it roughly doubled the excise tax to 35.3 cents per gallon.

Read more at: http://www.utsandiego.com/news/2013/feb/24/tp-expect-even-higher-prices-at-the-pump/?print&page=all

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