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Allow calculating Property Taxes based off assessed value distinct from market value

California bases property taxes off an assessed value that’s (effectively) frozen and can only go up by 2% per year. We should allow specifying a separate assessed base for tax purposes, and allowing a cap on property tax growth rate for areas that follow a similar model.

23 votes

Tagged as Suggestion

Suggested 21 April 2022 by user Stephen Touset

Moved into Completed 24 June

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  • 21 April 2022 Stephen Touset suggested this task

  • 22 April 2022 Kyle Nolan approved this task

  • avatar
    JP Daigle

    Note that the assessed value can be appealed and lowered (temporarily) if the property value declines after purchase, so the tax base (set in purchase year) can be temporarily overridden by a reassessment.

    06 January 2023
  • avatar
    Shawn S

    Broadly speaking, having the ability to define custom growth curves for all Real Estate expenses will be very useful!

    16 July 2024
  • avatar
    Ross Silverstein

    Ideally this item could be included into a broader Real Estate / Mortgage sprint, along with this suggestion:

    https://changemap.co/projectifi/projectifi/task/6254-housing-allow-modeling-of/

    19 August 2024
  • avatar
    Dinesh

    A simple thing that could be done here is to allow us to specify the taxes in today’s currency + a specified rate of increase. That would cover California Prop 13. It’s a bit of a special case but there are 40 million of us ;-)

    25 March

  • 30 May Kyle Nolan moved this task into In progress

  • avatar
    Shawn Sansom

    4.3.0 introduces many new options in this regard. If there is something else you think you need in this area, please file a new request, and bring the discussion to Discord, #feature-ideas channel.

    24 June

  • 24 June Shawn Sansom moved this task into Completed

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