More on Property Tax

    More on Property Tax

    Nov 07, 2017

    Did you remember to set your clock back and gain an extra hour of sleep? Here is another good news to help you save some money on taxes.

    For California, Proposition 58 allows for one to apply for no reassessment exemption when a parent passes and a child inherits their home. Or Proposition 193 does the same when a grandparent leaves a house to a grandchild at time of passing. For more details consult your tax accountant.

    If you are in escrow right now, so close to when property tax is due, and your property tax is not impounded with your mortgage payment, it would be wise to pay the property tax bill through escrow & title company. This will save you complications of late reporting of payments made and delay of close of escrow.

    Wisdom is more than knowledge. Wisdom is knowing what to do with the knowledge you have to benefit yourself or someone else. It is always a blessing to help my clients with the wisdom given me through the years of experience. Selling or buying a home is more than writing an offer or putting a sign in the yard, or posting it online.

    Have a happy week.

    Always There For You,

    Sin-Yi Lambertson

    Broker Associate

    BRE #00690433, NMLS #317774