Taxable Property

Property is taxable if it meets the legal definition of personal or real property. According to California law, real property is land, all its natural resources and all structures built on the land. Personal property includes all other property that does not fit the definition for real property. Personal property is taxable if it can be weighed, measured or seen, and includes machinery, equipment, tools, office furniture and supplies. However, securities, mortgages, personal household items, noncommercial boats valued below $400 and business inventories are not taxable property. These two property classifications are important because the tax assessment varies on the type of property.

School Funding

School districts and community colleges often receive a great deal of funding from local property taxes. Some increases in tax rates begin when schools request additional funds from local governments to remain in operation. This extra need is passed down to property owners in the form of a higher tax rate.

Government Need

Local governments use property taxes as a major source of funding. When a county or city that imposes property tax finds itself with a budget gap, increasing the property tax rate is one way to raise funds quickly. However, some states, including California, impose a cap on the property tax rate, limiting the power of cities to raise property taxes to generate quick cash.

Rises in Area Value

Homeowners may see a rise in property taxes when the neighborhood, community or region experiences a general rise in property value. This can happen for economic reasons, such as an influx of new residents seeking jobs. Neighborhood improvements or new construction of luxury homes can also have a major effect on the assessed value of nearby property.

Home Improvements

One of the most significant causes of property tax increases, which is also among the most controllable, is a rise in the value of a property due to home improvements. Adding a home office, finished basement, or addition to your home will undoubtedly increase its value at the time of the next assessment. Since assessments determine the value of the home, and property taxes are based on this value, a higher assessment means a higher tax bill. Other improvements, including adding a garage or shed or improving fences may also result in a higher assessed value. To combat higher assessments, taxpayers can file an appeal to request a lower assessment amount.

Don’t Ignore Your Entry

“Having fresh flowers on display to greet guests when they walk in the door is an instant mood-uplifter. Not only does it add a wonderful fragrance, it adds a touch of color and natural beauty like nothing else can.” -Marisa Marcantonio

Treat Your Windows

“My trick for making a low budget space appear much more high-end is to splurge on tailored window covering, even if everything else within the room is low-end. This doesn’t mean $100 per yard fabric needs to be used. In fact, the drapery panels can even be ready-made; they just need to be properly lined, hemmed and attached to drapery rods with rings and drapery hooks. So, anytime someone asks me my must-have styling trick to give a room a luxurious or high-end look, my answer is always to pay close attention to the tailoring of windows.” -Brian Patrick Flynn

Dim the Lights

“I always make sure there’s a dimmer on every light switch, and that I have plenty of lamps throughout a space. Adjusting the lighting in a room can make it moody, cozy, romantic, relaxing, and definitely luxurious.” -Julia Noran, President and Site Director

Test Your Metals

“When I think luxe, I think just a hint of shimmer or sparkle. It’s the ‘less is more’ rule and making those little moments pop! Like wearing a little black dress, but the real element that makes it special is the jewelry. Bits of metallic accessories throughout can elevate any space.” -Tyler Wisler

Add Some Flower Power

“Place a small spray of pink, store-bought tulips or carnations in a tight arrangement in a small vase or decorative glass on the nightstand. It adds a dose of boutique hotel hospitality, elevating the everyday moments.” -Marisa Marcantonio