LA County parcel tax: Did you get this in the mail? Don’t throw it away!

Los Angeles County voters may consider a parcel fee, the “Clean Water, Clean Beaches Measure”, to improve water quality and clean stormwater and urban runoff. Click here for an overview of the need to protect our beaches and waterways from the untreated urban dreck that washed in every year.

Did you get this flyer in the mail this week? This is not spam – it is a precursor to a ballot election in 2013 with direct fiscal impact on your property taxes.

If the ballot measure passes, you may see an property tax assessment which, according to county officials, averages $54 per year for a typical residence.

Nonetheless, we are hearing about some folks facing higher assessments. In fact, SBAOR’s own property in Torrance is facing an assessment of more than $800! Why? The assessment formula takes impermeable square footage into account. “Impermeable” may mean things like buildings, concrete, asphalt, or materials that prevent stormwater from seeping directly into the ground.

What is the voting process?

For this measure to take effect, three steps must occur:

1. Notice to property owners including a protest form for property owners who oppose. The deadline is January 15, 2013. 
2. Public hearing on January 15, 2013. If a majority (50% plus one) of property owners return protest forms by this date, the County may not proceed with an election. 
3. Election. If passed, it would appear on 2014-2015 property tax bills. 

Did you already throw yours away? 

Those who misplaced this mailer, please call (800) 218-0018 or email water.info@dpw.lacounty.gov. If you support this measure or otherwise do not want to file a protest, there is no need for you to take further action. Remember, your protest form must be received by January 15, 2013.

Note: this post was edited on 12-14-12 to reflect correct information on what to do if you lose your mailer.

Don't let the Mortgage Interest Deduction be pulled over the fiscal cliff!

ACTION ALERT!

Tell Congress today that the recovering housing market cannot be held hostage to the ongoing fiscal cliff negotiations between Congress and the White House. Don't let Congress or the Administration tap into your mortgage interest deduction to reduce the federal deficit.

NAR has issued a Call-for-Action asking Congress to preserve the mortgage interest deduction as is. Congress, as part of negotiations on avoiding the "Fiscal Cliff," has made direct references to "closing loopholes" and "limiting deductions" as a way to raise revenues. Clearly, the mortgage interest deduction is high on this list of revenue raisers.

Congress may decide to reduce or limit the MID at any time.

 Limiting the MID impacts ALL homeowners, not just those who take the deduction, by decreasing the value of all housing. Every REALTOR® needs to respond today. Please click here to urge your Member of Congress to preserve the mortgage interest deduction:

 TAKE ACTION NOW

LA County Voters: Yes on Measure E!

The South Bay Association of REALTORS® is proud to support Measure E on the ballot for November 6, 2012. During times of increased tuition and costs for higher education, Measure E provides needed funding for El Camino College to ensure the success of its mission to offer quality academics and an educational experience that our region's future leaders deserve.

El Camino College's leadership states on its website that they are facing up to $10 million in budget cuts, even while seeing increased demand from new and prospective students, including former and active duty military personnel. From the website:

Since El Camino College was established, every effort has been made to offer labs, classrooms and instructional facilities that meet current and future academic needs. As job opportunities in high-tech and “green” technology industries expand, we continue to offer the training and resources needed to be competitive in these professions.

The Board also acknowledged that due to the growing number of returning military personnel, as well as active military, the upgrade of support services facilities is a high priority of the District.

In these challenging economic times, students need quality academics and job training more than ever. In order to provide the exceptional education our students need, we are asking our community for assistance.

When you vote your favorite candidate for president and for or against some of the various ballot propositions, don't forget to cast your yes vote for Measure E.

The gov't could seize your mortgage by eminent domain because...why, exactly? No one knows for sure

We have heard reams of discussion and impassioned arguments for and against the notion of using eminent domain to seize mortgages for the purpose of somehow solving the foreclosure crisis. But what is eminent domain really for? The government reserves its right to seize private property for the greater public good. This may mean things like schools, roads, airports, and similar land uses.

But mortgages? We're not talking about the ground itself, but the underlying financial instrument that is a civil contract between two private parties - lender and borrower. Putting aside the sense that this is an irresponsible, unethical and painfully overreaching use of eminent domain, it seems that the math doesn't add up either.

Our friends at the Inland Valleys Association of REALTORS® have put together pages of data and news on eminent domain. Just for example, maybe the eminent domain proposal cannot actually help those homeowners most in need and most at risk of losing their homes.

Or is that the private company that proposed this scheme may stand to profit up to 30 percent profit, after paying 80 cents on the dollar for these loans seized by the government. Nice money if you can get it - but whom does it really help?

Stay tuned for more information on the use and abuse of eminent domain as it applies to your mortgages.

REALTORS, Homeowners and Aspiring Homeowners: Natural allies in supporting the American Dream

The Los Angeles Times reported on Sunday about new resources to help REALTORS® do what they do best: promote homeownership and help consumers understand their homebuying choices.

More often than not, the Realtors' agenda is in tandem with the interests of buyers, sellers and ownerse of real estate. There is, as the group says on its website, "a natural alliance."

The National Association of REALTORS® is helping its members nationwide work directly with consumers - including buyers, sellers, homeowners, and those aspiring to own a home - to cut through all the media noise and understand what is most relevant for each person's individual needs.

Meanwhile, the REALTORS® advocacy at the national, state and local levels ensure that homeownership remains a possibility for more Americans - as buyers who are qualified to purchase a home should be able to do so without additional runaround from lenders, banks, or excessive regulations.

Even as the November 6 Presidential election gets close, it is worth remembering the most important point in the Times' story about who these consumers are:

And make no mistake, homeowners are voters. Some 85% of owners are registered to vote.

And hopefully you are registered to vote as well. If not, then hop to your local post office or library today! If you are a California resident, click here to register. The deadline to register is October 22, or October 30 if you vote by mail. Don't wait - your democracy depends on it.