Assessor Carmen Chu Reports Latest SF Transfer Tax and Sales Data (11.30.2020)

[@charliethewanderer6872]

If live in SF, I will vote for Carmen Chu, she is doing a great job to help all California residents with information.

[@CaliforniaGirl-qk5kq]

Carmen Chu was paid over $1.7 million since she became assessor in 2013. Her 2019 pay was over $259,000 and it included over $47,000 pension contribution. About 20% of her salary. No wonder California is going bankrupt. Time to cut salaries of government employees. transparentcalifornia.com lets keep in mind that since 2019, there is a limit of $10,000 on state and local taxes, As a result real estate taxes in effect are not deductible in California.

[@charliethewanderer6872]

@@CaliforniaGirl-qk5kq Agreed. Time to cut salaries of ALL government employees. Starting from the Governor to all fire and police chiefs....etc. Roll back the sells tax to 5% instead of 10%. LOL

[@charliethewanderer6872]

Prop 19: "Required that inherited homes that are not used as principal residences such as second homes or rentals, be reassessed at market value when transferred; and...." The word "rental" what it means. Living in one of the 4 units rental property for longer than 5 years as the principal residences, after transfer to children before deadline ? Will there be reassessment or not or partial ?

[@charliethewanderer6872]

If transfer property from parent to child before February 11, 2021, no property reassessment to children. BUT there is a IRS tax free gift of $15,000 per year. Property over 1 million gift requires to pay IRS 40% of property value given to child. Can anyone confirm this ?

[@CaliforniaGirl-qk5kq]

Covid-19 pandemic impacted California, but not government employees. You are not being laid off, you collect your exorbitant salaries and pensions. TIME FOR PROPOSITION TO CUT PAY CALIFORNIA GOVERNMENT EMPLOYEES ARE MAKING AT THE EXPENSE OF TAXPAYERS. transparentcalifornia.com