Beginning with the 2012 tax bill (due in April 2013), the state Franchise Tax Board will require property owners to break down their property taxes into deductible and non-deductible portions. As many as 5 million California property-tax payers who have been taking the entire amount they pay off their state income taxes could see a …
Thanks to Prop 13 passing in 1978, property taxes have gone down some, but, surprisingly, the proposition has increased the gap between who pays more of the percentage of property taxes–private property owners or businesses. The gap has widened between the two; residential owners now pay a hefty 72% of the property taxes in Orange …
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