beenz
Rap Guerilla
they reassessed my house, and the appreciation killed me in taxes. the old assessment didn't even account for the entire house being rehabbed
Florida Home Buyers BLINDSIDED By TREMENDOUS Cost To Own
- Thread starter morris
- Start date
they reassessed my house, and the appreciation killed me in taxes. the old assessment didn't even account for the entire house being rehabbed
Sane thing happened to me in 2022they reassessed my house, and the appreciation killed me in taxes. the old assessment didn't even account for the entire house being rehabbed
LeVraiPapi
Redemption is Coming
beenz
Rap Guerilla
I just said costco. if u have a costco membership, they have a bunch of other services they offer. one of which is insurance. u can get quotes and buy it right off the internet.
Insurance companies have jacked up prices in all 50 states , everyone wants their cut .
Yeah, I’m doing $8500 in taxes and $2800/yr insurance ouchea in Texas, and it’s getting worse every year. With Texas Farm Bureau insurance and everyone else is quoting me like 5-6k for insurance. With our busted weather, shyts not sustainable….
Cali people stay getting robbed. I tried to warn them.
The 17% increase, set to go into effect in June, was granted last week by Insurance Commissioner Ricardo Lara following a monthslong proceeding that was classified as an “emergency” following the Los Angeles fires.
But State Farm had originally requested a 30% rate hike in June 2024 — and now, with the 17% emergency rate hike approved, it wants to return to its original number. The request, if granted, would go into effect in 2026, amounting to an 11% hike on top of the previous 17%.
A hearing slated for this fall will allow State Farm — the largest insurer in California — to argue for justifying the full 30% rate hike it originally sought, according to new documents filed with the state on Monday.
‘They want more?’ State Farm increases California home insurance rate hike request to 30%
The 17% increase, set to go into effect in June, was granted last week by Insurance Commissioner Ricardo Lara following a monthslong proceeding that was classified as an “emergency” following the Los Angeles fires.
But State Farm had originally requested a 30% rate hike in June 2024 — and now, with the 17% emergency rate hike approved, it wants to return to its original number. The request, if granted, would go into effect in 2026, amounting to an 11% hike on top of the previous 17%.
A hearing slated for this fall will allow State Farm — the largest insurer in California — to argue for justifying the full 30% rate hike it originally sought, according to new documents filed with the state on Monday.
ORDER_66
I dont care anymore 2026
Cali people stay getting robbed. I tried to warn them.
‘They want more?’ State Farm increases California home insurance rate hike request to 30%
The 17% increase, set to go into effect in June, was granted last week by Insurance Commissioner Ricardo Lara following a monthslong proceeding that was classified as an “emergency” following the Los Angeles fires.
But State Farm had originally requested a 30% rate hike in June 2024 — and now, with the 17% emergency rate hike approved, it wants to return to its original number. The request, if granted, would go into effect in 2026, amounting to an 11% hike on top of the previous 17%.
A hearing slated for this fall will allow State Farm — the largest insurer in California — to argue for justifying the full 30% rate hike it originally sought, according to new documents filed with the state on Monday.
Imagine over a cup of coffee or a glass of wine we get to talking about investments. Then maybe one of us, let’s say you, says:
“Hey I’ve got an idea. We’re always talking about good investments. What if we came up with the worst possible investment we can construct? What might that look like?”
Well, let’s see now (pulling out our lined yellow pad), let’s make a list. To be really terrible:
“Hey I’ve got an idea. We’re always talking about good investments. What if we came up with the worst possible investment we can construct? What might that look like?”
Well, let’s see now (pulling out our lined yellow pad), let’s make a list. To be really terrible:
- It should be not just an initial, but if we do it right, a relentlessly ongoing drain on the cash reserves of the owner.
- It should be illiquid. We’ll make it something that takes weeks, no – wait – even better, months of time and effort to buy or sell.
- It should be expensive to buy and sell. We’ll add very high transaction costs. Let’s say 5% commissions on the deal, coming and going.
- It should be complex to buy or sell. That way we can ladle on lots of extra fees and reports and documents we can charge for.
- It should generate low returns. Certainly no more than the inflation rate. Maybe a bit less.
- It should be leveraged! Oh, oh this one is great! This is how we’ll get people to swallow those low returns! If the price goes up a little bit, leverage will magnify this and people will convince themselves it’s actually a good investment! Nah, don’t worry about it. Most will never even consider that leverage is also very high risk and could just as easily wipe them out.
- It should be mortgaged! Another beauty of leverage. We can charge interest on the loans. Yep, and with just a little more effort we should easily be able to persuade people who buy this thing to borrow money against it more than once.
- It should be unproductive. While we’re talking about interest, let’s be sure this investment we are creating never pays any. No dividends either, of course.
- It should be immobile. If we can fix it to one geographical spot we can be sure at any given time only a tiny group of potential buyers for it will exist. Sometimes and in some places, none at all!
- It should be subject to the fortunes of one country, one state, one city, one town…No! One neighborhood! Imagine if our investment could somehow tie its owner to the fate of one narrow location. The risk could be enormous! A plant closes. A street gang moves in. A government goes crazy with taxes. An environmental disaster happens nearby. We could have an investment that not only crushes it’s owner’s net worth, but does so even as they are losing their job and income!
- It should be something that locks its owner in one geographical area. That’ll limit their options and keep ’em docile for their employers!
- It should be expensive. Ideally we’ll make it so expensive that it will represent a disproportionate percentage of a person’s net worth. Nothing like squeezing out diversification to increase risk!
- It should be expensive to own, too! Let’s make sure this investment requires an endless parade of repairs and maintenance without which it will crumble into dust.
- It should be fragile and easily damaged by weather, fire, vandalism and the like! Now we can add-on expensive insurance to cover these risks. Making sure, of course, that the bad things that are most likely to happen aren’t actually covered. Don’t worry, we’ll bury that in the fine print or maybe just charge extra for it.
- It should be heavily taxed, too! Let’s get the Feds in on this. If it should go up in value, we’ll go ahead and tax that gain. If it goes down in value should we offer a balancing tax deduction on the loss like with other investments? Nah.
- It should be taxed even more! Let’s not forget our state and local governments. Why wait till this investment is sold? Unlike other investments, let’s tax it each and every year. Oh, and let’s raise those taxes anytime it goes up in value. Lower them when it goes down? Don’t be silly.
- It should be something you can never really own. Since we are going to give the government the power to tax this investment every year, “owning” it will be just like sharecropping. We’ll let them work it, maintain it, pay all the cost associated with it and, as long as they pay their annual rent (oops, I mean taxes) we’ll let ’em stay in it. Unless we decide we want it.
- For that, we’ll make it subject to eminent domain. You know, in case we decide that instead of getting our rent (damn! I mean taxes) we’d rather just take it away from them.
Just bought a couple months ago in FL cause with rent going up and minimal raises at work...figured I'd be pushed out of renting something decent since I wouldn't make enough.
The most worrisome thing in the buying process was finding homeowners insurance. The initial quotes were crazy high and pushed the monthly payment to a price I couldn't afford. I had to go through an insurance broker and get Citizens. I can already tell this is going to be no different than renting but all the responsibility is on me now but at least I got a roof over my head.
To any future homebuyers in FL...I'd recommend going new build so your homeowners insurance isn't too high (they still gonna get you in taxes) if you can afford it but avoid DR Horton or any other builder that's putting up shyt quickly.
The most worrisome thing in the buying process was finding homeowners insurance. The initial quotes were crazy high and pushed the monthly payment to a price I couldn't afford. I had to go through an insurance broker and get Citizens. I can already tell this is going to be no different than renting but all the responsibility is on me now but at least I got a roof over my head.
To any future homebuyers in FL...I'd recommend going new build so your homeowners insurance isn't too high (they still gonna get you in taxes) if you can afford it but avoid DR Horton or any other builder that's putting up shyt quickly.
Those cardboard subdivisions they build in month with no backyard and 3 feet away from the next house with a starting price low 300ks
I overlooked this at first but came back to it. Hilariously saddening!Imagine over a cup of coffee or a glass of wine we get to talking about investments. Then maybe one of us, let’s say you, says:
“Hey I’ve got an idea. We’re always talking about good investments. What if we came up with the worst possible investment we can construct? What might that look like?”
Well, let’s see now (pulling out our lined yellow pad), let’s make a list. To be really terrible:
- It should be not just an initial, but if we do it right, a relentlessly ongoing drain on the cash reserves of the owner.
- It should be illiquid. We’ll make it something that takes weeks, no – wait – even better, months of time and effort to buy or sell.
- It should be expensive to buy and sell. We’ll add very high transaction costs. Let’s say 5% commissions on the deal, coming and going.
- It should be complex to buy or sell. That way we can ladle on lots of extra fees and reports and documents we can charge for.
- It should generate low returns. Certainly no more than the inflation rate. Maybe a bit less.
- It should be leveraged! Oh, oh this one is great! This is how we’ll get people to swallow those low returns! If the price goes up a little bit, leverage will magnify this and people will convince themselves it’s actually a good investment! Nah, don’t worry about it. Most will never even consider that leverage is also very high risk and could just as easily wipe them out.
- It should be mortgaged! Another beauty of leverage. We can charge interest on the loans. Yep, and with just a little more effort we should easily be able to persuade people who buy this thing to borrow money against it more than once.
- It should be unproductive. While we’re talking about interest, let’s be sure this investment we are creating never pays any. No dividends either, of course.
- IIt should be immobile. If we can fix it to one geographical spot we can be sure at any given time only a tiny group of potential buyers for it will exist. Sometimes and in some places, none at all!
- It should be subject to the fortunes of one country, one state, one city, one town…No! One neighborhood! Imagine if our investment could somehow tie its owner to the fate of one narrow location. The risk could be enormous! A plant closes. A street gang moves in. A government goes crazy with taxes. An environmental disaster happens nearby. We could have an investment that not only crushes it’s owner’s net worth, but does so even as they are losing their job and income!
- It should be something that locks its owner in one geographical area. That’ll limit their options and keep ’em docile for their employers!
- It should be expensive. Ideally we’ll make it so expensive that it will represent a disproportionate percentage of a person’s net worth. Nothing like squeezing out diversification to increase risk!
- It should be expensive to own, too! Let’s make sure this investment requires an endless parade of repairs and maintenance without which it will crumble into dust.
- It should be fragile and easily damaged by weather, fire, vandalism and the like! Now we can add-on expensive insurance to cover these risks. Making sure, of course, that the bad things that are most likely to happen aren’t actually covered. Don’t worry, we’ll bury that in the fine print or maybe just charge extra for it.
- It should be heavily taxed, too! Let’s get the Feds in on this. If it should go up in value, we’ll go ahead and tax that gain. If it goes down in value should we offer a balancing tax deduction on the loss like with other investments? Nah.
- It should be taxed even more! Let’s not forget our state and local governments. Why wait till this investment is sold? Unlike other investments, let’s tax it each and every year. Oh, and let’s raise those taxes anytime it goes up in value. Lower them when it goes down? Don’t be silly.
- It should be something you can never really own. Since we are going to give the government the power to tax this investment every year, “owning” it will be just like sharecropping. We’ll let them work it, maintain it, pay all the cost associated with it and, as long as they pay their annual rent (oops, I mean taxes) we’ll let ’em stay in it. Unless we decide we want it.
- For that, we’ll make it subject to eminent domain. You know, in case we decide that instead of getting our rent (damn! I mean taxes) we’d rather just take it away from them.
You never really own anything in America
Should every country dweller get the family exemption to bury a family member on the land & pay no taxes
Don't pay your property taxes & the county takes it away
Don't pay your code violations & the county takes it away
Don't pay your HOA fees & they take it away
$12.8 million lifetime gift
The government tells you what you can do with your money
Go over that limit & they'll tax you at 43 percent
They can close your bank accounts at anytime
Should every country dweller get the family exemption to bury a family member on the land & pay no taxes
Don't pay your property taxes & the county takes it away
Don't pay your code violations & the county takes it away
Don't pay your HOA fees & they take it away
$12.8 million lifetime gift
The government tells you what you can do with your money
Go over that limit & they'll tax you at 43 percent
They can close your bank accounts at anytime
These loan officers and builders are doing an awful job informing buyers of property taxes. Starting to think its collusion just to get these homes sold and buyers can deal with the aftermath. They are paying land tax only the first year on new construction and the second year (or whatever assessment year) are shocked when the property taxes factoring in the actual home raises their payment $400-1000+ a month.
I know that isn't technically the realtors responsibility, but realtors shouldn't be paid 2-3% commission to act dumbfounded when someone like me asks this question when they claim to be local market experts.
