Home Buying in Chula Vista>Question Details

Jbarrett, Home Buyer in Chula Vista, CA

If we refinance our home loan, do we lose the prop 13?

Asked by Jbarrett, Chula Vista, CA Mon Aug 15, 2011

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9
Reaffirming your taxes are not determined by any lender. @Claudette, I would have no clue what additional documents you are suggesting. Tax information is provided to a lender by the title/escrow company (and to them by the county assessor's office)...the numbers are simply input into the borrowers loan file. Let me know if you can assist you with your refinancing.
2 votes Thank Flag Link Tue Aug 16, 2011
Proposition 13 has nothing to do with the financing on your home. Prop 13 is about assessed value. Prop 13 states how your assessed value is determined and what can cause a change in assessed value. Prop 13 put a cap on the wild increases in assessed value that we used to see before it was passed. What does not change the assessed value of your home is the existence, change in or lack of a loan on the home.
2 votes Thank Flag Link Mon Aug 15, 2011
Absoultely not. A reassessment of your home would only occur if you sold it, built an addition or if you had challenged your property tax base in recent years and the values started to increase again, which I have not seen happen yet in San Diego County
Web Reference: http://www.noviproperty.com
2 votes Thank Flag Link Mon Aug 15, 2011
Hi JBarret,

Property taxes are not increased as a result of a refinance of your loan. Attached is a web link with some Q&A covering some typical questions.

http://vanessaestrella.com/Documents/prop13.pdf

Best regards,
1 vote Thank Flag Link Tue Oct 18, 2011
Jbarrett:

Please review the following blog post, I think it will help you understand a number of property tax related questions you might be having:

"Estimating Property Taxes in CA"
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/…
1 vote Thank Flag Link Thu Aug 18, 2011
Your prop 13 is tied to the property and not the loan so you will not lose it.

Give a call if we can help out with your refi or if you have any other questions

joe
619-285-2921
1 vote Thank Flag Link Mon Aug 15, 2011
One thing you will need to factor into the equation is the Obamacare 3.8% tax, however.
0 votes Thank Flag Link Mon Jan 13, 2014
The 3.8% tax is on certain income above a certain threshold and has nothing to do with property tax and nothing to do with financing or refinancing.
Flag Mon Jan 13, 2014
Mike Rameriz, Hey, hey hey Buddy. Let's do away with that kind of derogatory comment. I don't see any answers here patronizing the questioner for business. No need to go into attack mode. Frankly your answer is completely off topic. The question was regarding the Jarvis Gahn Prop 13 property tax law and has nothing to do whatsoever with your answer. Let's lighten up a little huh.
0 votes Thank Flag Link Mon Jan 13, 2014
No..........................No.................................No!! Never as long as it's not voted out by an ultra liberal state assembly.
0 votes Thank Flag Link Mon Aug 15, 2011
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