Interesting article in the Register Saturday. Did you know Prop 13 allows taxes to be returned to Prop 13 levels without the 2% per year restriction?
That means those who had severe price drops and reduced property taxes might see sudden increases that are higher than expected. In one instance, property taxes could go up 13% next year if prices continue toward market heights. I guess this is one more example that demonstrates how hard it is to have it both ways.
Fortunately, Los Alamitos is on the lowest end of the rate increases. So, living in a stable community might help prevent the sticker shock other areas will be experiencing.
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