Selling Your Home (Click on the link to see a comparison of two couples selling their home, one paying no Capital Gains tax and the other paying several hundred thousand dollars.)
Note: Image posted in Sacramento Bee on June 6th, 2008 in the article Prop. 13 still liked, California Poll finds by Andy Furillo.
We’ve lived in a middle upper class Southbay neighborhood for 43 years. The street has 10 homes which ends in a cul-de-sac. Five are original Prop 13 beneficiaries. A neighbor passed away several years ago and his wife sold their home one year later. Two of the remaining Prop 13 beneficiaries are long-term widows. The other three are surviving couples all in their late 70’s and early 80’s. The other five homes have turned ownership several times, but have stayed steady for the last 5 to 10 years. Read the rest of this entry »