New Laws Affecting Property Owners in Berkeley,CA
GENERAL OBLIGATION BOND
There are a number of new laws effecting our local housing market which were promoted and passed on November 6, 2018 ballot. These laws will affect homeowners, investors who are buying and selling homes across the East Bay. Each day for the next nine days, I will post information about one of the local measure that was passed and reference the city it refers to as well as when it will go into effect. Some new laws being as early as January 1, 2019.
BERKELEY GENERAL OBLIGATION BOND – To be paid by taxpayers for the next 36 years
- Homeowners will be taxed approximately $23 for every $100,000 of the assessed value of their home annually.
- $135 million bond that is required to be spent on affordable housing in Berkeley.
If you own property and want to sell it, or are interested in purchasing Real Estate in the Bay Area, please reach out so we can find out how we can best help you achieve your goals for 2019.
The bay area continues to be a popular place to call home.