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【MINA 房·财·税】EP 46 揭秘美国房地产税： 房价评估根据什么？地税过高如何上诉？为什么有的地区城市地税那么高？装修翻新加建改建对地税有什么影响？CFD/Mello Roos是什么？ - YouTube
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Hey，guys.
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Welcome to my channel.
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I'm Mina，
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a real estate agent and certified public accountant
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who lives in California.
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Similar questions
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have been asked by my clients
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recently.
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They are
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about taxes of real estate
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in US.
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Will I pay more land tax
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if my house's more expensive？
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Like a model home
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with furnitures and decoration
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or with a splendid view
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which I pay more when I purchase it.
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Will I pay more land tax too？
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Today I'm gonna
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give you the answer.
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First of all，
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federal government
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has no land tax.
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Land tax is paid to
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local government and state government
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not like personal income tax
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or corporation tax.
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It's the biggest resource or income
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or local or state government.
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Most of our taxes
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are used for state
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infrastructure，
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like school，commuting traffic，
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park facility，emergency assistance facility
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and library.
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Land tax is just simple
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mathematical calculation.
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House value multiply by local land tax rate
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plus construction tax if needed equals to land tax you should pay.
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So how much is the house value？
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Is it equal to the amount of money I pay for it？
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Should I pay my land tax base on it？
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Normally，
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an accessor from county
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will use one or combine
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more of these methods below
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to evaluate your house.
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First method，
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sales evaluation.
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Second one，cost method.
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It's similar to
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the cost of rebuilding in claim settlement.
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Third one，income method.
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It's the estimated income from the house.
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We'll talk about sales evaluation first.
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Accessor
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will compare your house with similar houses，
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include houses
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in same area，like in same community
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and same street
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with same features，
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like upgraded swimming pool
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or attic and so on.
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And
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the accessor will also consider changes you've made in the house，
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like an additional bathroom，
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or a renovated old house
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of 70s，
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which add value to the house.
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Then he/she will take market
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situation into account as well
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to assess value.
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Next one，cost method.
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It's easy to understand.
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We just need to calculate how much
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it takes to rebuild this house
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including costs
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of material and labor.
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If the house is really old，
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then you need to
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subtract depreciation.
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Last one，income method.
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Accessor will assume
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how much income this house might bring.
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Of course，
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costs of maintenance will be considered，
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which include taxes，insurance and management fee.
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We need to talk about
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some key factors
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that affect land tax evaluation.
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They are size of the house，
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building type，housing age，feature，
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location，
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buildings around，facilities
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and housing market of nearby districts.
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Usually accessor
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will renew their
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evaluation of the house in 1-5 years
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in order to
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levy land tax more accurately.
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Proposition 13 of California
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stipulates that
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estimated value should raise no more than
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2% annually if evaluation based on
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purchasing price，unless
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exchange of
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ownership or any reconstruction.
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Now we need to talk about decoration.
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Will
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decoration affect taxes？
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It depends.
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Decoration
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which does not add up to our house value
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like
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fixing the roof
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or replacing a faucet washer
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affects little to
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land tax evaluation.
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Because these do not
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bring more value
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to the house essentially.
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But if apply for a permit
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and hire a contractor
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to add 1 more bathroom
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or 1 more bedroom，
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which brings actual value to the house，
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then it affects house
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evaluation.
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So far California
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does not classify that
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any new construction
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bring value to a house.
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So，
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I'm gonna share my perspective.
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1
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Any additional land or upgrade
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including fixtures，
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like new cupboard and direplace count.
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But
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most furnitures like desks，chairs，beds，
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pianos and murals
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are not part of
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the house and won't be considered.
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2. Any physical changes
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which retrofit the house
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and extend its economic life count.
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For instance，flipping a house of 70s
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into a house of 2020.
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It's surely extend its economic life.
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So this will be considered into evaluation.
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3
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Any land reconstruction or upgrade
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that bring substantial changes
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in the way they're uesed.
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For example，additional bathroom，
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bedrooms，ADU for garages
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and backroom rebuild.
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All these will be considered.
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4. Any physical refurbishment
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of fixtures，like
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new central air-conditioning.
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It's similar to the second point.
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It extends economic lives of fixtures.
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So it will be considered too.
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But
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how does county know what you've
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done to your house？
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And which
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one of them might casue reappraisal.
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Well，they know it by your permit application.
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When you hire a contractor
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for house decoration，
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the contractor needs to apply for permits.
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Government will check the permits，
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and decide whether reappraisal is necessary.
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So
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I strongly recommend that
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record the changes with photos
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Because they are visualized.
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You can negotiate with the government with them.
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If you're not satisfied
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with the result of evaluation，
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you can
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apply for
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appeal process from
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county clerk.
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I've talked about this
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in previous video.
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Now we knew about house value，
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let's get back to the formula.
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House value multiply by local land tax rate，
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what's the land tax rate？
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Every state and county，
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every city even every school district
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of that city
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can levy taxes on the local real estates.
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Land taxes of different area are different.
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We have to add them up
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to get a whole land tax rate.
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For example，
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a county estimates all their houses
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worth $100million.
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And it decides to
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levy $1million taxes on them.
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These taxes will be used for construction.
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Then parts of the land taxes in this county
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will be $1million
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divided by $100million
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equals to
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1% of tax rate.
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It's quite common in California.
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And
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we assume that a city in this county
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levies 0.4% and a school district
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levies another 0.3%
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of land tax.
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So the total land tax rate will be
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（1+0.4+0.3）%，
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equals to 1.7%.
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We could use this formula
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to calculate land tax
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from county to city，
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from city to school district.
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We could also know from it that
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federal government has nothing to do land tax.
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Now we can tell why
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some new cities
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or specific ares of the city
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pays higher land tax，like
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Orange County.
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Internal land tax rate
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is 1-1.1% in most cities，like
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Yorba Linda.
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But some new development zones
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pay land tax at 1.9% rate
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even 2.0%，like
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Irvine Park.
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Why land tax in Irvine Park is higher？
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Because of its
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community facility district.
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CFD in
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Irvine Park
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consists of 10 renovated areas.
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It's a special tax area.
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Taxes used for schools，
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parks and all kinds of community facilities building
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and environment improvement
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benefit residents
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living there.
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That's why
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residents need to pay for them.
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You can search
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informations about taxes for CFD on relevant
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government websites.
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OK.
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That's all for today.
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If you like this video,
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give me a like or comment.
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I'm Mina.
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Subscribe，
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now！
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And click the bell icon at the bottom right.
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Contact me
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if you're interested in US houses
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or you've got questions to ask.
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Thanks for watching.
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See you next video，bye.
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