How much will property taxes be on my Tahoe Second Home?

April 26, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

How much will property taxes be on my Tahoe Second Home?

Working with second home Tahoe Buyers I get a number of questions from them. One of the most common questions I am asked is:

“How much will property taxes be on my Tahoe Second Home?”

While I am not an accountant, or tax professional (full disclosure here), for general planning and budgeting purposes, in the greater Tahoe City – Truckee, California areas (Placer County, Nevada County and El Dorado County), a buyer can generally expect their first year of property taxes to be approximately 1.25% of the purchase price.

Some agents go a little higher, some a little lower, but I have found that for planning purposes, using 1.25% of the initial purchase price is a reasonable number for our area for your first year. The tax breakdown is as follows:

1% of the real estate purchase price (California Proposition 13)

Add an additional 0.25% for additional tax payer approved measures such as education, fire, and other local public programs, for a total of 1.25% of the purchase price.

How much will property taxes be on my Tahoe Second Home?

A Tahoe Real Estate Example:

Purchase price of the Tahoe cabin is $500,000

Property taxes for the first year should be about $6,250, or 1.25% of $500,000 as an estimate.

California Prop 13 does allow for the underlying property value to be increased by 2% each year. What that means to you as a new Tahoe home owner is after your first year, and every year thereafter, a Tahoe property owner could see the base value of the property increase, which means the total tax bill will also increase for the following years of ownership.

For example, with our $500,000 Tahoe property purchase example, after year one, the second year of ownership could become $510,000 (2% increase in the base value of $500,000).

That means the property tax bill would also increase as 1.25% of $510,000, would be $6,375, which would be an increase in total property taxes due.

The following years could follow a similar formula. An increase in the property tax over the first year due to the escalation property value clause is also something a California Tahoe Buyer should plan for.

Supplemental Tax Bill If the Tahoe real estate you are buying currently has a lower tax basis than the purchase price you are paying, you’ll get a “supplemental tax bill” about 90 days after you have closed escrow. So be prepared for that extra bill and payment. Again, another expense that you should plan for in that first year of ownership, which goes into figuring out “How much will property taxes be on my Tahoe Second Home?”

If you are buying a property that has a higher tax base than what you are paying, you’ll receive a tax notice that gives you have a tax credit, and they will apply that towards your next tax bill.

If a buyer needs an exact property tax amount for the Tahoe real estate they are purchasing, or if they need tax planning advice, I always recommend speaking to a tax professional.

Want to know more about what your Tahoe Real Estate Property Taxes are funding? Here is an example of a detailed breakdown of some of the additional local area taxes that make up that extra 0.25% for the West Shore, Placer County (Tahoe City and Homewood, a small portion of Tahoma) areas:

Tahoe Forest Hospital B&I 2008 Series
Tahoe Trukcee Un B&I 99a Sfid#2 Ref
No Tahoe Fire Special Tax
Tahoe Truckee Unified School Measure A
Tahoe Truckee Un B&I 93a98 Ref 2010
Sierra College Sfid #1 B&I 2004 S
Tahoe Truckee Un B&I 99b Sfid #2
North Tahoe Fire Suppression Asmt
Tahoe Truckee Un B&I 93b Ref 2004
Tahoe Truckee Un B&I 99a S fid #2
Placer County Mosquito & Vector Contr
Tahoe Trukcee Un B&I 2002a Sfid #2

Yes I know there are a lot of abbreviations that don’t make a lot of sense, and it seems that the same item reappears several times, but this is a current breakdown from a recent purchase in the Homewood area on the West Shore of Lake Tahoe in unincorporated Placer County.

There are other taxes that are unique in El Dorado County for the Tahoma (most of Tahoma, all of Meeks Bay and Rubicon Bay are all in El Dorado County) area.

Properties in Kings Beach, Tahoe Vista, and Carnelian Bay have a Mellos Roos fee for the North Lake Tahoe Conference Center.

Truckee is mostly in Nevada county, but you’ll find Northstar, Martis Camp, Lahontan and Schaffer’s Mill all in unincorporated Placer County. you’ll find that those properties have their own unique assessments, along with the ones above. Buyers should always ask if there are special Mellos Roos fees, and/or private transfer fees on the sale of property in the specific community they are looking to buy.

During your escrow period you will have a chance as a Tahoe Buyer to learn more about the specific taxes that will come along with your Tahoe property. For planning purposes using 1.25% of your purchase price is going to give you a good idea of what your annual tax bill amount is going to be on that property.

Need help buying a Tahoe property? Give me a call!

Lake Tahoe, California Real Estate property taxes.

Thinking about making Lake Tahoe, California your second home? Check out the homes that are for sale here:

Want to see what condos are for sale in Lake Tahoe? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

How much will property taxes be on my Tahoe Second Home?

What is my home worth in Martis Camp | 2016

April 25, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

What is my home worth in Martis Camp | 2016

What is my home worth in Martis Camp? Real estate conditions have changed over the past few years. Check out the current over-all market conditions as of 04-21-2016 to get a better idea of the Martis Camp real estate market conditions.

Real Estate Market Activity for Martis Camp, California as of 04-21-2016 | Only Tahoe Sierra Multiple Listing (TSMLS) Sales Data – no builder/developer private sales are included:

Number of Homes Sold in Martis Camp – 2015: 22
Median Average Sold Sales Price in Martis Camp for 2015: $4,650,000
Average Sold Sales Price in Martis Camp for 2015: $4,617,480
Sold Price Range in Martis Camp: $2,035,000 – $8,350,000
Average Sold Median Sales Price to Sold Median List Price Ratio for 2015 in Martis Camp: 95.4%
Average Days on Market (DOM in MLS) in Martis Camp – 2015: 244 DOM
Number of Active and Available Homes for Sale in Martis Camp as of 04-21-2016: 28
Pending Sales in Martis Camp 04-21-2016: 1
Number of Distressed Sales – Court Approval, Short Sales, or REO Bank Foreclosures in Martis Camp for Sale as of 04-21-2016: 0 (REO Bank Foreclosure)

The demand for luxury mountain homes and cabins in the Martis Camp area continues to be strong because of the extensive Tahoe lifestyle and amenities this community offers.

Home owners have a wide variety of options from being located close to the Martis Camp amenity area, along with estate settings that have an average of about 1.5 acres and have a more remote forest setting.

Martis Camp is known for its home owner amenities and facilities, which go from ski-in and ski-out, championship 18-hole golf course, two fantastic recreational centers, and they have their own slice of Lake Tahoe with their own lakefront property on the North Shore.

Owners that ski have their own quad high-speed chair lift that takes residents right from their own ski lodge into the Northstar Ski Resort area making this a ski-in and ski-out resort community.

Martis Camp is the only Truckee gated communities that also has its own private North Lake Tahoe lakefront property with their own “Beach Shack” (which is anything but a shack) giving Martis Camp home owners access to the sandy beaches of Lake Tahoe and all of the luxury resort enjoyment that comes from a day at the beach.

The Martis Camp neighborhood is an ultra luxury gated community with +/-653 home-sites. This development was started a little over a decade ago (2006), so it is a development with newer, and brand new construction homes.

Martis Camp was created to give home owners the ultimate North Lake Tahoe “camping” lifestyle experience with all of the resort amenities and facilities that appeal to all ages and abilities.

Martis Camp has all of the Lake Tahoe recreational activities that our full-time and second home owners are looking for such as boating, hiking, biking, tennis, golf, skiing, swimming, restaurants, and so much more. This North Lake Tahoe-Truckee community is one that has it all and it is why so many choose to call Martis Camp home.

Are you ready to find out what your Martis Camp home is worth? Just click on the link below and you will be asked to provide us with some information on your Martis Camp property and I will get you a complete home market valuation report.

FREE Market Analysis in Martis Camp

This is not an instant home value, or the popular $-estimate that other sites offer. Why? Market estimates for the Tahoe area that are automated can produce a market value that is very inaccurate and let’s face it, accuracy counts when it comes to your money and what your Martis Camp luxury Mountain home is really worth, so let’s do a real evaluation on your property.

The right data and information on your Martis Camp property is critical to an accurate market value estimate. We know that each Martis Camp property is unique and that they were built as a custom home. It’s important that your mountain property gets all of the credit and value it deserves for all of those special features before we place a value on it.

What are second home buyers looking for in a luxury Martis Camp home, or cabin? What are those property features that will cause a property to sell quickly?

Excellent maintenance – Well cared for properties inside and out
Upgraded custom features found in newer construction homes
Homes that are ready to use on day one – turn-key ready
Mountain Charm, Clean, and Uncluttered – professional decorated is a plus
Easy to show at all times – no special appointment needed
On REALTOR® Electronic Lock Box — making a property easy for a buyers’ agent to show and not requiring the listing agents to be present to show the property is a big plus.
Correct Pricing in the Fair Market Value range according to the current market conditions

What “must have” features are Tahoe Second Home Buyers hoping to find?

Kitchen – High-end appliances, solid counter tops, the extras that turn the kitchen into a gourmet chef’s dream kitchen and entertainment center
Open Floor Plan – The open, great room concept is in demand here
Hardwood floors in the main living areas
Bathrooms – High end finishing touches, solid surfaces, stone, custom tile
Bunk Bed Room
Bonus Family Room Areas
Outdoor living space – decks and patios
Energy Efficiency – windows, smart home technology, well maintained mechanics, green features
Recent Pest Report – Clear Section I and Section II (Even new/newer construction homes should have an inspection to provide to potential buyers)
Recent Home Inspection Report (Even though a buyer will get their own inspections, they mentally give positive points to a home owner that has had a home inspection done to show them the current condition of the property from a professional perspective.)
Fireplace – Gas Log, or Wood Burning in the living room
EPA Wood Burning Compliant Wood Burning Stove, or Fireplace Insert
Garage – Two car preferred, but three car garage is a plus
Plug-in for EV’s or Tesla Car Charging Station in the Garage
Mountain – Cabin vibe
Mountain Contemporary
Lake Tahoe recreational water access and amenities – beach, pier, buoy option is a bonus
Ski-in and Ski-out Access to the Northstar Ski Resort area
Backs to, or is next to open space
Low traffic locations
Mountain or Valley Views
Golf Course Views
Social and Golf Memberships

If you’re thinking of selling your Martis Camp home it will be more valuable, and have more market appeal if your property has any of these upgraded custom features, or offers both Social and Golf Membership as part of the package price.

Get a FREE Home Value Evaluation for your Martis Camp House Here

Tahoe Seller Tip – Provide as much information and property details as you can on your property. The more information, the better!

Each on-line viewing is your first showing! Every time your home is viewed on-line, that Tahoe buyer is making that critical first impression decision on whether or not to have your Martis Camp home on their short list of properties to see when they come to North Lake Tahoe.

Unlike other markets, this second home market often only has a buyer here for only a few hours to see properties and you’re on the list or you’re not.

Your on-line presence will impact a buyers “must-see” showing list, which means you need a great internet profile and presentation of your property.

To achieve the broadest world-wide Internet marketing exposure and presence, your Martis Camp property you’ll need a combination of a fully completed TSMLS property profile, social media campaign, blogging, and video exposure.

Even in this highly sought after gated community, Martis Camp sellers still are competing to get the attention of a limited number of buyers, so if you want a timely sale, you’ll need to have a full marketing plan and program. Remember you are not hiring a sales person, this is not a used car lot. Instead you are selecting a luxury real estate marketing specialist to get you results and to guide you through the real estate property selling process.

Experienced real estate agents that understand a strong on-line marketing plan when combined with other key traditional home marketing strategies can really make a difference for their sellers.

What is my Home Worth in Martis Camp?

Need to expand your Martis Camp home buying options? Check out these homes for sale in luxury golf course communities (will include Martis Camp homes too) here:

Thinking about making Truckee your second home? Here are some popular area options:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

What is my home worth in Martis Camp?

The Art Haus and Cinema in Tahoe City

April 24, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

The Art Haus and Cinema in Tahoe City

Looking to see a movie, or take in a special event while you are in North Lake Tahoe? Check out the Art Haus and Cinema, located in the corner of the Cobblestone Mall in downtown Tahoe City, California.

The Art Haus and Cinema is the only movie house, theater, and bar in the North Lake Tahoe region. The theater was extensively renovated in 2014 and has a state-of-the-art digital projector.

The Art Haus is more than just a movie theater, it is a multi-use event location that shows new major movie releases, along with independent films, action sports films (many featuring locals and the Tahoe area), along with classic releases (can anyone say Rocky Horror Picture Show).

They also host special events like special film screen showings with the filmmakers, speakers, dance performances, live music events, and fundraisers. They have enough open space between the traditional theater seating to have plenty of space for dancing (dance floor) and have a good time. Looking for a venue to host a private event such as a birthday, or party, this just may be the perfect place for your special event.

The Art Haus and Cinema is an intimate movie viewing experience with approximately 80 rocking leather seats, with large cup holders, along with an open seating area with couches located at the back of the theater above the traditional theater seating area making it wheelchair accessible.

The Art Haus and Cinema offers freshly made popcorn with butter and your choice of seasonings (spice bar), along with up to seven beers on tap, including cider, and high-end craft bottles of beer. In addition to their adult beverages and buttered popcorn, they have a nice variety of traditional concession stand candies, treats, and hot dogs. They also have an espresso machine, so if gourmet coffee is your beverage of choice, you even have that as an option here too!

It’s easy to see what movies and events are coming-up with their on-line calendar, or with the new mini marquee located below the Cobblestone Center sign in downtown Tahoe City. It’s easy to get your movie tickets by buying them on-line, or you can buy them at the theater – your choice. Ticket pricing is offered as adults, seniors, or children. Parking is also easy with plenty of spaces at the Cobblestone Mall, or on Main Street. Have more questions give them a call at 530.584.2431

We’ve been to the Art Haus and Cinema many times and it is a wonderful movie-going experience!

If you’re looking to see a movie while you are up here in the North Lake Tahoe area, check out the Tahoe Art Haus and Cinema in downtown Tahoe City!

Thinking about making Tahoe City, California your second home? Check out the homes that are for sale in Tahoe City here:

Want to see what condos are for sale in Tahoe City? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

The Art Haus and Cinema in Tahoe City

April Tahoe Snow Showers Brings…

April 22, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

April Tahoe Snow Showers Brings…

You know the old saying April showers brings May flowers, but what do you get when it’s a snow storm in late April? April Tahoe snow showers brings….well, in my case, my snow boots have returned from the back of my closet!

Three days ago it was warm enough for shorts, sunscreen, and we were out on the West Shore of Lake Tahoe bike/walking path with our nine-year-old Irish Wolfhound dog Blackie, and it was wonderful to be out on a nice, dry path free of snow and ice, but not today.

Now its April 22, 2016, and it’s snowing hard enough to make me bring out my snow boots and snow shovel so I can clear the stairs and walk-ways again.

Just when I had thought spring had really sprung, and all of my patio furniture had returned to the front deck, we get a big snow storm. This photo was taken at about 3:30 p.m. today!

The heavy, wet snow that is loaded with water content is always welcome in a state that had seen some of the worst drought years ever, so while our daffodils won’t fair well, the snow, or rain is always welcome here.

It’s hit and miss when it comes to our spring weather here in the Lake Tahoe – Truckee area, which covers April, May, and early June, but if you’re a spring skier, or snow boarder this late snow storm today will freshen up the ski resorts for a great spring skiing weekend up her in North Lake Tahoe.

For those that will be headed to the greater Tahoe City – Truckee area this weekend, don’t forget to dress in layers and if you need chains for your car, keep them in the trunk of your car just in case this storm lingers on for a few more days.

If you like the idea of not knowing whether we’ll have snow, or if it will be warm enough for shorts then you’ll want to be up in the greater Tahoe City, West Lake Tahoe, or North Lake Tahoe area this coming weekend to take advantage of the crazy weather conditions. Either way, you’re going to have a great time here!

Come on up and enjoy our crazy spring weather here in the North Lake Tahoe – Truckee area this weekend!

Thinking about making Tahoe City, California your second home? Check out the homes that are for sale in Tahoe City here:

Want to see what condos are for sale in Tahoe City? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

April Tahoe Snow Showers brings…

Road Construction West Shore Tahoe City Traffic Delays 2016

April 21, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Road Construction West Shore Tahoe City Traffic Delays 2016

Tired of the large pot holes on the West Shore of Lake Tahoe, especially the super grande sized ones just outside of Tahoe City?

Starting yesterday, Cal Trans road construction began as crews started repairing the North-bound lane of Highway 89 South.

Next week they will do a similar repair on the South-bound lane of Highway 89 South, which means it the beginning of road construction on the West Shore of Tahoe City and you can expect Traffic Delays in 2016!

Normally I’d be complaining about the traffic delays, and how long those delays have been – up to 20 minutes at each stop, but today I’m singing the “Hooray, Hooray Road Construction is Under Way” tune!

Who knew I’d be so excited about getting road construction, but the West Shore was loaded with pot holes, and they just kept getting bigger – wider and deeper, and every time I went into Tahoe City, there would be more of them.

It was so bad drivers were weaving in and out around them. Is that an impaired driver in front of you? No, it’s just someone trying to not destroy their car by swerving around the holes in the road!

I am not exaggerating, it’s true, there were a couple of times I was sure I’d lost an axle, or wheel. Forget the wheel alignment I just had last summer, that was long gone with the first pot hole I hit last winter!

Some of our pot holes became so large that Cal Trans was seen spot filling the holes between snow storms several times over the past few month just to prevent accidents. It was a tell-tale sign of just how bad our pot hole problem had become.

While I am cheering for these critical repairs, everyone needs to know this is just the beginning of a very long road construction season.

This year Cal Trans will be working close to the Tahoe City downtown area as they finish their work on the West Shore of Lake Tahoe with their water drainage project – curbs, gutters, and rock-work, which will cause significant travel delays as everyone will be slowed down as we work around the construction work.

In addition to the completion of this multi-year project that began back in 2012 that included Southwest Gas and their new natural gas pipe line, along with the California Department of Transportation (Cal Trans) installing a new storm water system along Highway 89 South.

You’ll find Cal Trans doing work around Fanny Bridge and just before you enter Tahoe City on Hwy 89 as they prepare for the new Fanny Bridge Revitalization Project, which will create three (3) new round-abouts, a West Shore pass that will go in and through the 64 acre area project, along with a new Fanny Bridge over the Truckee River – a multi-year project that begins this year.

Tahoe City – West Shore Lake Tahoe Hwy 89 South: (Tahoe City Highway 89 S to Homewood, Tahoma, Meeks Bay and Rubicon Bay, CA) you can expect traffic delays all the way down the West Shore of Lake Tahoe in multiple locations this year until you hit Emerald Bay.

In the Tahoma area they are working to find a solution to the road surface repair work they did last year that was not successful, so expect work down in that community later this summer once they come up with a solution to their surface road problem.

Road construction work is running Monday – Friday, and they will come up with schedule designed to minimize the traffic delays in the area downtown Tahoe City area during peak times and on weekends. This year’s work will begin April 1, and will ends Nov 1, 2016.

If you’ll be traveling on the West Shore this year expect road construction delays Monday – Friday, April – November 2016.

Be smart and add extra travel time (30+ minutes) to get to your Lake Tahoe destinations. You’ll save yourself a lot of frustration and reduce the stress of the delays if you leave early and plan for delays. Be safe everyone!

Plan for Traffic Delays and Road Construction on from the “Y” at Tahoe City all the way down on the West Shore of Lake Tahoe this summer.

Thinking about making the the West Shore of Lake Tahoe your second home?

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Road Construction West Shore Tahoe City Traffic Delays 2016