Will my property taxes go up if I refinance in California?

Will my property taxes go up if I refinance in California?

Tax assessed values are only used by tax collectors. The sale of a property can trigger a tax assessment in some places, including California. However, a refinance loan is not a sale because the property is not changing hands. So refinancing your mortgage loan won’t cause your property taxes to change.

Is there a senior discount for property taxes in California?

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Homeowners 65 and older (or surviving spouses 60 and older) are exempt from municipal taxes on the first $150,000 of assessed value of their property. The Equality State is tax-friendly to all residents, especially retirees. There is no income tax, and sales taxes are low.

Which state has no property tax for seniors?

South Dakota

What is the best age to collect Social Security?

By now, you may have heard: 70 is the best age for claiming Social Security benefits. Here’s why. Because you have already reached your full retirement age — age 66 or 67 for most — you’ll receive 100% of the benefits you are entitled to.

Is it better to take Social Security at 62 or 67?

If you start taking Social Security at age 62, rather than waiting until your full retirement age (FRA), you can expect up to a 30% reduction in monthly benefits with lesser reductions as you approach FRA. That could be at least a 24% higher monthly benefit if you delay claiming until age 70.