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Old 08-01-2020, 01:31 PM
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Default Cash Crunch? Gavin Newsom’s 2020 Property Taxes Are Delinquent on BOTH of His Estates

Cash Crunch? Gavin Newsom’s 2020 Property Taxes Are Delinquent on BOTH of His Estates
Posted at 7:15 pm on July 31, 2020 by Jennifer Van Laar

https://www.redstate.com/jenvanlaar/...ostPromoterPro

Property taxes in California are insanely expensive, as we all know. They sting everyone, including Gov. Gavin Newsom (D). He personally owns more than $6 million in real estate in the Golden State, giving him a massive property tax bill every year. And even though he received $2,695,000 cash in late January from Union Bank as a cash-out refinance on his $3.7 million Sacramento County mansion, he didn’t turn around and pay property taxes due in either Sacramento County or Marin County. In fact, at this moment his Kentfield estate is listed as “delinquent” on the Marin County Tax Collector’s website.

Property taxes in California are due in two installments, December 10 and April 10, and are listed delinquent if they’re not paid by July 1. At this point, the Newsoms owe a $2,601.16 in penalties in costs on top of $22,444.92 in property taxes (that’s the second installment, yep).

He *has* paid this year’s property taxes on his Fair Oaks mansion but paid them late – on June 25 – along with a $2,094.15 late fee.

There are so many things wrong with what’s happening here. First off, since the Newsoms just received all of that money, the first thing they should have done is pay their tax obligations – especially as good the little statists they are. That they didn’t should be concerning to the bank that gave them those sweetheart cash-out refinancing deals, and that concern will be amplified by the fact that many Silicon Valley companies are now allowing employees to work remotely from anywhere in the country. That will drive down both purchase and rental prices in the San Francisco Bay Area, as Los Angeles talk radio host John Phillips and I discussed on Thursday’s “John Phillips Show.”

The Newsoms currently use their Marin County home as a rental property (after listing it for $5.9 million in January 2019, then taking it off the market six months later), and if that rental income decreases significantly it looks like the Newsoms may have issues making mortgage payments – assuming that their failure to pay property taxes indicates some type of cash crunch.

The most maddening aspect of all of this is Gavin Newsom’s continued hypocrisy and demands that the “little people” in California sacrifice and do everything he says to “meet this moment” while he completely fails to join in the sacrifice.
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Old 08-01-2020, 05:24 PM
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Default Re: Cash Crunch? Gavin Newsom’s 2020 Property Taxes Are Delinquent on BOTH of His Est

Quote:
Originally Posted by jim slagle View Post
Cash Crunch? Gavin Newsom’s 2020 Property Taxes Are Delinquent on BOTH of His Estates
Posted at 7:15 pm on July 31, 2020 by Jennifer Van Laar

https://www.redstate.com/jenvanlaar/...ostPromoterPro

Property taxes in California are insanely expensive, as we all know. They sting everyone, including Gov. Gavin Newsom (D). He personally owns more than $6 million in real estate in the Golden State, giving him a massive property tax bill every year. And even though he received $2,695,000 cash in late January from Union Bank as a cash-out refinance on his $3.7 million Sacramento County mansion, he didn’t turn around and pay property taxes due in either Sacramento County or Marin County. In fact, at this moment his Kentfield estate is listed as “delinquent” on the Marin County Tax Collector’s website.

Property taxes in California are due in two installments, December 10 and April 10, and are listed delinquent if they’re not paid by July 1. At this point, the Newsoms owe a $2,601.16 in penalties in costs on top of $22,444.92 in property taxes (that’s the second installment, yep).

He *has* paid this year’s property taxes on his Fair Oaks mansion but paid them late – on June 25 – along with a $2,094.15 late fee.

There are so many things wrong with what’s happening here. First off, since the Newsoms just received all of that money, the first thing they should have done is pay their tax obligations – especially as good the little statists they are. That they didn’t should be concerning to the bank that gave them those sweetheart cash-out refinancing deals, and that concern will be amplified by the fact that many Silicon Valley companies are now allowing employees to work remotely from anywhere in the country. That will drive down both purchase and rental prices in the San Francisco Bay Area, as Los Angeles talk radio host John Phillips and I discussed on Thursday’s “John Phillips Show.”

The Newsoms currently use their Marin County home as a rental property (after listing it for $5.9 million in January 2019, then taking it off the market six months later), and if that rental income decreases significantly it looks like the Newsoms may have issues making mortgage payments – assuming that their failure to pay property taxes indicates some type of cash crunch.

The most maddening aspect of all of this is Gavin Newsom’s continued hypocrisy and demands that the “little people” in California sacrifice and do everything he says to “meet this moment” while he completely fails to join in the sacrifice.
Property taxes in Ca. are 1% of the sales price when you bought it and remain the same until sold, then is re assessed at the new sales price for the new owner.
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