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The Ellis Act (California Government Code Chapter 12.75) [1] is a 1985 California state law that allows landlords to evict residential tenants to "go out of the rental business" in spite of desires by local governments to compel them to continue providing rental housing.
In 2019, WalletHub applied California's statewide effective property tax rate of 0.77% to the state median home market value of $443,400; the annual property taxes of $3,414 on the median home value was the 9th-highest in the United States. [31]
Home equity theft happens when governments auction off seized houses and keep the profits—even once the tax bill is paid. Local Governments Are Seizing and Selling Homes Over Small Tax Debts ...
You’re not eligible for the $250,000-per-person home sale profit exclusion, and in addition to paying capital gains tax you also face a depreciation recapture tax of 25%.
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Leading the campaign to enact Proposition 13, California politician Howard Jarvis tried to get tenants to vote for Prop 13 by claiming that landlords would pass tax savings along to tenants; when most failed to do so, it became an additional motivating factor for rent control. [43]: 2
Under the arcane tax rule of possessory interest, thousands of California tenants in subsidized housing could face individual tax bills upwards of $1,000 a year.
At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
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