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Los Angeles Tax
Simon Says: "here are Some Things to Think About When Buying a Condo in Santa Monica, Brentwood or Another Westside Los Angeles Neighborhood:"
Things To Think About When Buying A Condo
Condominiums have made homeownership affordable for many people. This is particularly the case on the Westside of Los Angeles, where theprices of single family residences are prohibitive to even the mostwell heeled professionals. There are however many things to considerwhen buying a condo in these areas:
Earthquake Insurance:
Approximately half of all condominium andtownhouse buildings on the Westside have earthquake insurance included in the homeowner's dues.
Pros:
This protects the owners from having to come up with funds to payfor repairs, should an earthquake occur. Price of construction per square foot in Santa Monica, Brentwood and other Westside neighborhoods can be anywhere from $150-300. This makes a complete rebuild on a 1000sf condo at the very least $150, 000 up to $300, 000. Often the insurance provides funds for replacement housing shouldthe homeowners need to move out during reconstruction.
Some, not many, buildings were completely torn down and rebuiltafter the Northridge Earthquake in 1994. So no matter what thedeductible, these buildings were happy to have had earthquakeinsurance.
Cons:
Earthquake insurance can be very costly. Premiums tend to besignificantly higher for buildings that are looking for new coverageas opposed to buildings who signed on for coverage 20 years ago. The deductibles can be upwards of $250 -500, 000, much higher thanwhat most buildings in Santa Monica suffered during the NorthridgeEarthquake in 1994. Personal Assessment Insurance can be had for a maximum of $50, 000per condominium. You would be covered in an instance where your 10unit condo building had $500, 000 worth of damage.
The federal government often supplies subsidized loans at very lowinterest rates for disaster victims.Many buildings in Santa Monica had to go through years of courtaction before their insurance providers would give them the financialassistance that was owed to them
Earthquake Insurance FAQ's:
All of the units in a condo building need to subscribe to theEarthquake Insurance policy. Coverage cannot be given to units on anindividual basis.
Pet Policy:
Most condominium buildings have a restriction on pet size. Smallerbuilding and townhouse buildings tend to be more liberal while largebuildings are more conservative.
Pet size restrictions tend to be by poundage and number of petlimits. The most common is two dogs or cats under 20lbs each. Otherbuildings have 30 and 40lb limits. The average Labrador is over 40lbs.
If you have a pet or plan on getting one make sure you read theCC&R's on pet restrictions. The CC&R's are the rules that govern theHomeowners Association.
Pet Policy FAQ's:
If a homeowner breaks the rules with regards to pet size or numberthe pet will be mandated to leave the building. If the pet does notleave the HOA can place liens on the property and or force courtaction to have either you or your pet forbidden entry.
Amenities:
Many people enjoy the idea of amenities such as pools, sauna, 24hour guard gated access. For many residents of these buildings theseamenities never become truly valuable. There are thousands ofresidents of local condo buildings who use the building pool aboutonce a year. Additionally, in Santa Monica and Brentwood there aremany local gyms that do a better job of motivating you. So, if you aregoing to buy in a building with amenities, and therefore higherhomeowners dues and purchase prices, make sure you are going to take full advantage of them.
I should also mention that if you are looking to live in a luxurybuilding; say an ocean view condominium on Ocean Avenue, none of the above applies. You are going to have amenities whether you like them or not and enjoy using or not using every minute of them.
Reserves:
After the Homeowners Dues are collected and used to pay debits tothe different vendors the left over money is put into reserves for thebuilding. Funds from the reserves can be used in case the buildingneeds a new roof or upgrades to the hallways and common areas.
Difference between a Condo and a Co-op:
In a condominium, the owner owns the space inside the wallsindividually and the common areas collectively as part of a group. Itis a pure form of homeownership, with the same rights andresponsibilities of a single family home. A co-op is owned by acooperative that issues shares to the building and the right to occupya given unit. As the owner, you own shares in the building not thespace inside the walls. Your right to occupy a particular section ofthe building is usually issued via a lease term that renews everyfifty years or so. About 95% of the multi-unit inventory in LosAngeles (Brentwood) and Santa Monica is condos. In New York City the majority of units are co-ops. The difference between buying a condo or a co-op in Santa Monica and Los Angeles is that buyers of co-ops tend to have less financing options available to them. You also have to be "approved" by the board. Here on the Westside the boards are pretty liberal in contrast to the stories you might have heard about New York City co-op boards.
Difference between a Townhouse and a Condo:
In Santa Monica and the other neighborhoods of the Westside of LosAngeles, people refer to single story residences as condos and double or triple story residences as townhouses. These are both condominiums in the legal sense of the term.
Simon Salloom is a Realtor with Coldwell Banker who specializes in Santa Monica Real Estate.Click here to learn more about Santa Monica Real Estate
Simon Salloom is a Realtor who specializes in Santa Monica Real Estate with Coldwell Banker Residential Real Estate Brokerage, Brentwood Court Office. He is ranked in the top 3% of Coldwell Banker agents Nationwide for sales volume. Contact me via my web-site: www.SantaMonicaSimon.com Article Source: ArticlesBase.com
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Should a Cell Phone Dealer Be Responsible For Following Corporate Direction?
How Not to Pay Your City Cell Phone Tax
MetroPCS in the Bay Area has found a way around paying their fair share of cell phone taxes. Actually they have found a way to save San Franciscan's money. Depending on how you look at it. I imagine that MetroPCS would like you to think that it is on your behalf.
When I signed up for my MetroPCS phone I gave them my real name, number address etc. I got locked out of Voicemail and was prompted to give my address. This led me to find out that the address they had on file and the one I gave them were not the same. I went into a corporate store and received a printout which included my recorded address. I went back to the store where I bought my phone and inquired... We have asked more than 4 store managers and one corporate store why the address We gave them was not the address they had on file and we were told the same thing in each store. "San Francisco tax is too expensive"..Save money..good for the customer etc.
These stores offer you a chance to "save money" by eliminating a paper bill being mailed to you. In this way the customer can save as much as $3.50 or more each month by having their bill viewed online. But where do the savings come from? Less Tax of course! But wait I do pay a monthly 911 tax of about 80 cents which needs to be collected by San Francisco so I heard. It is curious that I pay a city tax on a phone that is registered out of the city.
To be fair it's a good price point strategy for MetroPCS since their product (which is primarily targeting those with limited or no credit, terrorists and drug dealers) requires up to 10% tax to be collected in California which prices the product at over $50. By eliminating the higher cell tax Metropcs users in San Francisco and Daly City pay around $49 a month. So, If you choose not to get a paper bill you opt out of paying the SF Tax.
http://metropcs.com/support/faq.php#200
Could it be that MetroPCS said screw you to San Francisco after the city won repeated attempts to force potentially harmful transmission towers to be built under protest in the community. see: Metro PCS v city and county of San Francisco.
http://www.ca9.uscourts.gov/coa/newopinions.nsf/924A93785E9B655988256FBD005FBEB6/$file/0316759.pdf?openelement
I'd sure like to know why our external account billing will record an out of town address such as the 89 Linden ave, South San Francisco address some stores use. We have uncovered more than a dozen MetroPCS dealers who send their customer call records to this address. This address is needed by government to verify the Cell Owner relating to tax and other purposes. Have MetroPCS and it's 40 independent dealers in San Francisco and Daly City conspired to defraud or inhibit with the collection of it's cell phone tax? Are they failing to keep accurate customer records which could be helpful in approved police investigations? Is this the tip of a larger pattern and practice? Los Angeles taxes their local customers 10%. In fact there are 160 Cities in California requiring a utility users tax.
http://www.citymayors.com/finance/phone_tax.html
Here is a link to the related City Tax Code 1.703-2 page.
http://www.sfgov.org/site/treasurer_page.asp?id=17806
What also isn't clear is whether printed call records are being sent to addresses outside of the city to comply with the local usage and address verification ordinance. What this means to you the customer is that your personal call records may be accessed and retained by unknown third parties. Which last time I checked is illegal. Not to mention with all the NSA illegal Domestic wiretapping hitting the news. When you sign up for a pre-paid anonymous cell phone in San Francisco chances are that your calls are not anonymous any longer.
Hello Hello Hello
A little history on MetroPCS
http://www.buyblue.org/node/1503/view/summary
With the courts on its side, MetroPCS Communications has battled back from bankruptcy. The company is developing its phone networks using CDMA (code division multiple access) technology. It operates in the metropolitan areas of Atlanta, Miami, Sacramento, and San Francisco. In 1995 MetroPCS purchased 14 spectrum licenses in an FCC auction but claimed the price was too much. The matter was argued in the courts, and the FCC sought help from the US Supreme Court, which denied it a hearing; in 2001 the deal price was reduced from $1 billion to $166 million. CEO Roger Linquist and CTO Malcolm Lorang founded MetroPCS in 1994.
[b][i]While MetroPCS and it's dealers have some splainin to do, $834 Million Dollars says this company will find a way out.[/i][/b]
Does the City have the guts to stand-up and demand a proper review against a former partner to Arthur Anderson, a Private Council to the President, a Barbary Coast Consulting client? Will all 40 Independent dealers like EZ Wireless in San Francisco be held responsible and split the bill? Only Time Will Tell... I wouldn't count on the Chronicle speaking too harshly about one of its bigger advertising clients though. Here's what USA Today has to say after finding out MetroPCS hasn't upgraded it's 911 system in Florida published a week or so ago.
http://www.nbc-2.com/articles/readinvestigativearticle.asp?articleid=8251&z=5&p=
MetroPCS is a non-union, low budget-high profit operation. They have sued the city more than once and have cost the city of San Francisco a lot of money. They came to the table offering competitive service, comparative value and considerable tax subsidy. Maybe its time the city replaces their contract. Or Not! What is your opinion?
Can You Hear Me Now?
C. History
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How far back can the Los Angeles tax assessor go back when they have made a mistake in the amount of your tax.
seems I have been underpaying for quite a while!
I was told they can go back 3 years.
HELP!!! I am very worried.
I am current on what they originally said I owed every year.
If it is 3 years I will gladly take it!!
It looks as if I have been under-assessed for 18 years....
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Los Angeles: Tax break for landlord for loss of revenue due to fire in a rental unit?
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Back in June a fire in one unit of a 13-unit apartment building made that unit uninhabitable. Repairs were subsequently made; however, the Department of Building and Safety needed to subsequently approve the re-occupancy of the unit.
Due to a bureaucratic snafu, wasn't able to get Department approval until December. Then, the supervisor said that it was alright to have the tenant move back into the repaired/renovated unit.
[The original inspector went on a bereavement leave. No proper re-delegation of his workload. Internal paperwork "misplaced." It was only once contacted supervisor at the Department, that learned of the reason for the delay. Previously my calls (answering machine messages) to the initial inspector had never receive any responses.]
What sort of federal tax break/write-off can be claimed, given that insurance did not cover such loss of revenue for that unit during those six months?
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Is it true that Los Angeles tax payers had to pay for the cost of Micheal Jackson's memorial?
It's just something that I heard about. Something like whatever happened in the staples center is going to be paid by LA tax payers. I think that's crazy! I mean, I'm 16 so it's not like I pay taxes but WOW!
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Is it fair for this government employee to make so much that he drives a Ferrari?
The county tax collector (John Morlock - not sure how to spell his name) from the treasury office, in Orange County, CA - a public employee whose job is to collect property/county taxes - seems to be making so much money that he drives a brand new Ferrari. Is this right? Considering the Los Angeles Tax Collector collects way more taxes, does that mean he probably has a private jet? wtf is going on?
Apparently he is an elected official for a non-partisan post as treasurer, up for re-election in June. (I might have his name wrong, I'm writing as I hear it on the news for the first time).
I'm sorry, maybe his name is Chris, I'm not clear yet...I'm watching it on PBS local news for Orange County, CA called "Real Orange" (repeat of last night's local news). I am so shocked that I just typed up the question so I might not have the name right, but he is the treasurer for Orange County, CA and has made so much money from his term in office as treasurer that he drives around in a brand new Ferrari. "He controls hundreds of millions of dollars as county treasurer."
isurvive - i DO have such luxuries (such a 3 large homes and nice cars, jewelery etc.) I am not jealous, sorry didn't expect to get such immature answers. However I am not a government employee during a time of economic crisis.
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