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Posted by Sgt.Sausage on March 15, 2007, 5:46 am
>
>>
>>
>> You've got that permanent rent payment to make the rest of your life
>> (barring some oddball "homesteading" exemptions) that we call Property
>> Tax
>> or Real Estate tax.
>>
>
> I know of 2 states where that isn't so. In California, I believe, after
> age
> 65, you can defer property taxes until time of sale. Here in Alaska, the
> first $150k of valuation is tax-free to those over 65.
Exactly which part of "homesteading exemptions" was it
that you didn't understand?
http://www.assetprotectionbook.com/Cal_704-730.htm
Go back and read what I said and tell me again that it "isn't so".
It is true, with the qualification I stated -- it's true except
for a few oddball homestead exemptions.
.
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Posted by Elizabeth Richardson on March 15, 2007, 12:41 pm
>
>
> Exactly which part of "homesteading exemptions" was it
> that you didn't understand?
>
Perhaps we have a difference over definition. While it's been a gazillion
years since I was in school, and many years since I worked in the title
insurance industry, I still think I have some grasp of the difference
between owning a homestead and being a home owner. Neither the California
law nor the Alaska law have anything to do with homesteading, oddball or
not.
Elizabeth Richardson
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Posted by on March 15, 2007, 5:02 pm
wrote:
>
>
>
>
> > Exactly which part of "homesteading exemptions" was it
> > that you didn't understand?
>
> Perhaps we have a difference over definition. While it's been a gazillion
> years since I was in school, and many years since I worked in the title
> insurance industry, I still think I have some grasp of the difference
> between owning a homestead and being a home owner. Neither the California
> law nor the Alaska law have anything to do with homesteading, oddball or
> not.
>
> Elizabeth Richardson
I am sorry his tone was rude to you. It was unecessary and your reply
was very gracious.
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Posted by on March 23, 2007, 10:24 am
> > Exactly which part of "homesteading exemptions" was it
> > that you didn't understand?
> Perhaps we have a difference over definition. While it's been a gazillion
> years since I was in school, and many years since I worked in the title
> insurance industry, I still think I have some grasp of the difference
> between owning a homestead and being a home owner. Neither the California
Tone aside, it's a matter of terminology. The term for
a law or exemption to a law is designed to protect the
value or ability of a person to live in his own residence
is a "homestead exemption". Most states have (limited)
homestead exemptions in their bankruptcy laws, many have
provisions which let folks defer property taxes or even
not pay some on some portion of the value of their homes.
These provisions all may be referred to as "homestead
exemptions" in various contexts.
Wikipedia (unless someone goes and hoses it) has a nice
page on it: http://en.wikipedia.org/wiki/Homestead_exemption
It has nothing to do with homesteads in the sense of
a farmhouse or outbuildings, or in the sense of, say,
the federal Homestead Act of 1862. In current legal terms,
"homestead" simply means a person or family's residence.
--
Plain Bread alone for e-mail, thanks. The rest gets trashed.
No HTML in E-Mail! -- http://www.expita.com/nomime.html
Are you posting responses that are easy for others to follow?
http://www.greenend.org.uk/rjk/2000/06/14/quoting
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Posted by Elizabeth Richardson on March 23, 2007, 11:01 am
>
> > > Exactly which part of "homesteading exemptions" was it
> > > that you didn't understand?
>
> > Perhaps we have a difference over definition. While it's been a
gazillion
> > years since I was in school, and many years since I worked in the title
> > insurance industry, I still think I have some grasp of the difference
> > between owning a homestead and being a home owner. Neither the
California
>
> Tone aside, it's a matter of terminology. The term for
> a law or exemption to a law is designed to protect the
> value or ability of a person to live in his own residence
> is a "homestead exemption".
Again, these laws have nothing to do with bankruptcy laws or a law where a
person can exempt his/her house from foreclosure after the spouse has died.
In California, property taxes are deferred, meaning they are still due and
payable upon sale. This deferral is available to ALL persons 65 and over,
including those who own very expensive homes. In Alaska, taxes are forgiven
on the first $150,000 valuation. This law applies to ALL citizens 65 and
over. Neither of these laws have anything to do with homesteading, but,
rather, owning a home. If you "boys" want to talk down to someone, be sure
of your facts.
Elizabeth Richardson
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