Apartment Owners Targeted for Huge Tax Increase!
Provided by Apartment Owners Association, May 2017
That is, unless you and I raise our voices before they raise our taxes. As you may have heard, you are a part of that “1%” the politicians talk about. You see, they also look at your wealth even though they only talk about people with incomes of over $250,000 a year. As long-time real estate investors, you and I have much more wealth than most of those people who have yearly earnings of $250,000!
The difference? Most of them spend the $250,000, while you saved a part of whatever you earned. Apartment owners who have never earned over $50,000 a year from their jobs are worth millions and the politicians know it. They never talked about it because they wanted to suck in as many sheep as possible by getting voters to think bad things about high income people. They succeeded at getting the voters to think ill of everybody who was financially successful.
It’s now your turn! The politicians will be trying to turn voters against so-called “rich property owners” as they carry over this idea of creating ill will between the “haves” and the “have-nots”. In fact, you may have noticed that the news media is already dropping the 1% term and replacing it with “the wealthy”.
How Will They Do It?
The first thing that comes to mind is Proposition 13. The politicians have spent more money than they have forced us to pay and now they “need” more and more and more. So how can they get it? Simple – just change the rules that have protected property owners for so many years. Change Prop13 and they can raise property taxes on the “rich” commercial property owners. This is now possible because they have, for the first time, a 2/3 majority in both the Senate and the Assembly. The only way they can spend big is if they tax big and you are now their target!
Who Will Support The Politicians Doing This?
If they don’t touch homeowners, they will be able to pass their tax increases without much opposition. Only 1%-2% of the voters own commercial property. They can easily pit all the homeowners against the “rich commercial property owners” and keep the votes of the other 98%. It worked by tricking the voters in the last election to be in favor of taxing the “rich” who earned over $250,000. Many of these voters did not realize that they would probably be next. Just as these homeowners are now totally unaware that the politicians will eventually come after them too!
“Nothing But The Facts”
- Proposition 13 limits the taxation of all property.
- This can now be changed by our politicians with a 2/3 vote.
- The party in favor of raising taxes now has a 2/3 majority in both the Senate and the Assembly.
- They can collect millions more in taxes if they split the tax rolls on multi-family rental property and tax it at a higher rate than they tax homeowners’ properties.
- Homeowners will not complain any more than those who earned less than $250,000 complained about taxing the “rich”. You know, “As long as they raise taxes on the other guy, it’s OK!”
- Soooo, many legislators are now licking their chops and proposing that commercial property owners (this includes apartments) be taxed at a much higher rate than homeowners.
- Our elected officials are already planning to put it on the ballot!
- YOU are going to be “taken to the laundry” unless this whole idea can be stopped now.
- A campaign to protect 100% of Prop13 is urgently needed today!
All apartment owners and other commercial property owners throughout the state must join together immediately. Don’t wait before you join together and do your part. Please don’t leave it up to AOA or any other organization. YOU are AOA and you are the intended victim that they are going after and nobody else is more interested in keeping your property taxes from skyrocketing than YOU! All organizations in favor of property rights and/or lower taxes must join hands and ask their members to do two things right now.
Do It Now!
Number One: Write the Assemblyperson and the State Senator who represents you. You can get their name and address by going to http://senate.ca.gov/senators or http://assembly.ca.gov/assemblymembers. Explain to them how draconian a tax increase would be at this time and ask them to please lower the spending part of their budget. Tell them how you would personally be affected if that would help. Also tell them that the people voted Prop13 in and that it seems wrong for them to change it without a vote of the people. You might ask them to reduce spending instead of raising taxes.
Number Two: Donate, donate and donate some more! You can donate online at http://www.aoausa.com/govabuse/ or send a check payable to the AOA Political Action Committee and mail it to AOA PAC at 6445 Sepulveda Blvd., Suite 300, Van Nuys, CA 91411 TODAY! Why not do it now before you stop reading this article or you will just forget about it until you receive your property tax bill with a huge increase of thousands of dollars. I’m sure you don’t want to send thousands of more dollars to the politicians to waste in Sacramento. So instead, send a much smaller check today to the AOA PAC. (As you know, political action costs money and your tenants are certainly not going to join together with your side. If you want the job done, you are the one who is going to have to do it.)
Your dollars will be put together with other organizations as we unite in strength to stop this nonsense of raising your taxes.
P.S. Please visit http://www.aoausa.com/govabuse/ to donate at least $50 for every unit you own or control. More would be even better. Keep in mind that this project is just for you, and if lost, you will be paying many thousands of dollars more in taxes from now until forever! I know that you care, so let me hear from you today. Thank you for your support!!
RENT CONTROL IS NOW IN RICHMOND.. IT IS COMPLICATED and EVOLVING AS WE GO. PPM IS YOUR RENT CONTROL SPECIALIST WITH ATTORNEYS on BOARD TO ADVISE……DON’T GO AT IT ALONE. CALL PPM to MANAGE YOUR PROPERTY.
Click the link below.
El Sobrante, California, November 3, 2016 – Forty-five million Americans are currently living in poverty. For these families and individuals, a warm coat is a budget extra they simply cannot afford. Professional Property Management invites area residents to make a difference in your neighbor’s lives by donating coats and dollars during our upcoming coat drive!
Professional Property Management is working with One Warm Coat to collect clean, gently used warm coats, and dollars to support the coat drive program, on November 3th through January 30 between 9 AM and 5 PM at 5054 El Portal Drive El Sobrante. The process is simple: you drop off your extra coat(s) and Professional Property Management takes care of the rest. All donated coats will be given to a local agency for distribution to local children and adults in need.
Customers who do not have a coat to donate can still get involved:
• Text “WARM” to 80100 to donate $10 to One Warm Coat
• Visit www.onewarmcoat.org/donate.
“For more than 20 years we have been working to provide a warm coat to anyone who needs one. We are so thankful for our many coat drive ambassadors, like Professional Property Management, who volunteer their time, resources and energy to help their neighbors in need. Together, we can reach our goal of warming one million people each winter, one community at a time!” commented Jennifer Stockard, President and Chief Executive Officer of One Warm Coat.
One Warm Coat is a national non-profit organization that works to provide a free, warm coat to any person in need and raises awareness of the vital need for warm coats. One Warm Coat supports individuals, groups, companies and organizations across the country by providing the tools and resources needed to hold a successful coat drive. Coats are distributed in the communities where they were collected, to any person in need, without charge, discrimination or obligation. Since its inception in 1992, One Warm Coat has worked with its volunteers to give away over 4 million coats. www.onewarmcoat.org
San Francisco Bay Area Home Sales Tumble in H1-2016
Down 10.3 Percent from 2015, Lowest Since 2008
CALIFORNIA, AUGUST 11, 2016 – In the first half of 2016 (January through June), San Francisco Bay Area single-family home and condominium sales fell 10.3 percent relative to the same period in 2015. Sales were the lowest since 2008.
Despite the slowdown in sales, median home prices continued to rise upwards to what might be described as new levels of unaffordability. Within the six Bay Area counties included in this study, San Francisco, Marin, Alameda, Contra Costa, San Mateo and Santa Clara, the increase in median home prices from June 2015 to June 2016 ranged from a low 6.5 percent (San Francisco) to a high of 14.3 percent (Marin).
Change in Bay Area Home Sales and Prices
(January through June Totals)
“It’s no surprise that sales have slowed in the Bay Area. Median home prices in the Marin to Santa Clara corridor top $1 million. San Mateo County hit a confounding $1.26 million in June 2016,” said Madeline Schnapp, Director of Economic Research for PropertyRadar. “Prices continue to rise but have definitely slowed from the double digit increases of 2013 and 2014. The decline in sales suggests that prices may soon top, perhaps as early as next year.”
“The slowdown in Bay Area sales has given rise to the concern that we are in the midst of another real estate bubble getting ready to pop,” said Schnapp. “This time around, the factors that contributed to the 2006 real estate bubble are largely absent. Factors such as large numbers of poor quality borrowers, easy availability of high-risk adjustable rate mortgages with 100 percent financing and a Federal Reserve that was raising interest rates, are not in play today.”
While the housing market may be showing signs of slowing down, California’s economy, the sixth largest in the world, remains robust. California’s economic growth rate is nearly twice the national rate, nearly half a million new jobs were created in 2015, and the unemployment rate in June 2016 was 5.4 percent. In the Bay Area, the technology sector continues to add high paying jobs and is likely to remain a dependable fuel source for California’s growth engine. Despite the drought, tourism and farm-related industries remain strong as well.
“The biggest hurdle to the Bay Area housing market has nothing to do with the economy,” said Schnapp. “Blame restrictive zoning and burdensome building regulations that limit building and add to the cost of construction. Until those issues are addressed, we expect sluggish sales to continue well into 2017.”
“In our view, Bay Area real estate is a tough market that is largely unaffordable,” said Schnapp. “That being said, we don’t see the current trend of sluggish sales and high prices leading to a repeat of 2008.”
San Francisco Bay Area Home Sales
Home Sales – January through June (H1) totals of single-family residence and condominium sales by year from 2001 to 2016
San Francisco Bay Area Median Home Price
Median Sales Price vs. Sales Volume – Median sales price of a San Francisco Bay Area single family home. June year-over-year comparison.
PPM is Full Service Real Estate Broker specializing in Residential and Commercial Real Estate Property Management and Sales. Call Us for a FREE Market Analysis of your Property Today!