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Reply #11: Its even better in California [View All]

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ProgressiveProfessor Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-28-09 10:23 AM
Response to Reply #8
11. Its even better in California
The problems with buying very cheap houses in many states is that the tax appraisal has nothing to do with the selling price. A $50K house may get taxed as it it was $150K house in most areas.

In CA with Prop 13, buying at the bottom also protects your taxes for the foreseeable future. There are reports of people who are selling their homes and then buying them back to establish new tax baselines. If you own it outright its quite feasible, all it takes are recording fees.
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