Random Thoughts Category
Early Registration to Bay to Breakers - Save $9
The 98th annual Bay to Breakers 12k is coming up on May 17, 2009 in San Francisco. I just saved $9 on early registration and I thought I would let you in on it.
This year they are offering an early registration discount to past participants (registration starts Jan. 1 for the general public) and they are allowing me to invite some friends. So, as you are a friend of mine I invite you to participate in the best 12k road race in the world! Here is your chance to save a little money, get a low bib number, and take part in a run you will never forget. Haven’t heard of the Bay to Breakers? Click Here to learn about what has become one of the highlights of my year.
Sphere: Related ContentThanksgiving not just this Thursday
Is Proposition 13 Unfair to First Time Buyers?
Is Proposition 13 a good or bad deal for home buyers? This is another topic that largely depends on your perspective. Passed in 1978 Proposition 13 was intended to protect homeowners from soaring tax bills as their homes appreciated in value. It certainly succeeded in that goal and by and large has been considered a good deal for homeowners. Even the mention of reforming Proposition 13 causes quite a stir and because of this it has been called the untouchable “third rail” of California politics.
Since I am not a politician I guess I can point out that it does have some unintended consequences that warrant discussion.
What is Proposition 13?
Essentially, Proposition 13:
- Limits property taxes to 1% of assessed valuation with fiscal 1975-76 as the base year.
- Limits assessment increases to 2% per year.
- Allows reassessments to market value only when a property is sold.
- Prohibits state lawmakers from imposing new taxes without a 2/3 vote of the legislature.
- Prohibits local governments from enacting most new taxes without a 2/3 vote of the electorate.
If you have owned your home for a long time this is a great thing. But what if you are a first time buyer? Is it fair to you that you may be paying two or three times more in taxes then your neighbor on a home of equal value? The response to this is generally “you will make it up over time”. Perhaps you will. If you stay in your new home long enough someone else is bound to move in next door who will be paying even more in taxes then you. The idea that we could all benefit from a system that spread the tax burden equally among all owners of real estate would appear to be practical enough but no politician will go there. Warren Buffet was ran out of town for even suggesting that the system be tweaked to allow for adjustments to be made based on a combination of property value and the owners income. I am certainly not suggesting we give up the protections of Proposition 13 but there are some other interesting things to consider such as;
Does Proposition 13 stifle entrepreneurship? Commercial real estate is also subject to Prop 13 so a new company may have significant costs not shared by it’s more established competitors.
Does Proposition 13 favor large sophisticated corporations over home owners and small businesses ? Unlike residential real estate when a corporation is sold the transfer of the real estate owned by the corporation may not be subject to reassessment.
Does Proposition 13 influence Cities and Counties planning in a negative way? With Sales Tax as the most robust revenue source for Cities and Counties there has been a tendency to promote high yield retail development at the expense of housing, manufacturing and other job creating businesses.
These are just a few of the questions that would be worthwhile to discuss. Don’t look for it to happen anytime soon though. In Sacramento they won’t touch this with a ten foot pole.
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Where do you stay when you Travel?
I don’t know about you but I am looking forward to the day that affordable air service comes to the Redding Airport. Sure, you can fly in and out of Redding through SFO on United or fly Horizon to Portland or L.A. but you still have to catch a connection and the cost is rather high. For now most of the people I know fly in and out of Sacramento. It’s pretty convenient for the most part but early flights require either an overnight stay or getting up in the middle of the night to drive to Sacramento. I would prefer not to be wiped out from sleep deprivation when I get to my destination so we usually drive down the night before, which brings me to the point of this blog.
Where do you stay when you fly out of Sacramento? We found a place we really like. The SpringHill Suites Marriott on Venture Oaks Way is just minutes from the Airport, has a 24 hour on-demand shuttle and free park and fly. It also has one of the best complimentary breakfasts we have ever experienced. They even pack you a “to go” breakfast if you have a very early shuttle/flight. The cost for a room is just over $100 per night but if you are traveling for 7 days and subtract airport parking plus breakfast for two your cost is actually pretty marginal. They also just might have the most comfortable pillows we have ever slept on. That’s our “Travel Tip” for the day. Hope you have a great vacation wherever you are going!
Sphere: Related ContentClean up that Foreclosure!
Good news for Neighborhoods! New bill will clean up that house down the street.As of July 8, 2008 anyone (a bank for instance) who acquires a residential property through foreclosure must maintain the exterior. Failure to do so can result in civil fines up to $1,000 per day. This includes failing to take action against squatters or trespassers, failure to maintain foliage growth that diminishes the value of adjacent properties and failing to take action to prevent mosquitoes from breeding in standing water (like swimming pools or water features).
Violators must be given at least 14 days notice to begin repairs and have 30 days to complete before fines can be assessed.
The full text of Senate Bill 1137 (Perata) is available at www.leginfo.ca.gov.
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