What are the tax implications?

I have a split level home and I’m interested in expanding the
lover level of my home and added a master suite over my
Kitchen, Dinning Room and Living room. I suspect the project
will cost between $200 - $300K.  I live in California and am
wondering what are the property tax implications.  Could you
shed some light on this subject or point me in the right direction.

Thanks,

Tom


Tom,
I know nothing about California tax applications. No
matter where you are, your home with a new addition, in
all likelihood will be reassessed for the perceived added
value & your taxes will be increased.

If you call the tax collectors office (or email) you may be
able to get an idea of how much the increase will be.

Finally let me say again "I have never seen a homeowner
lose any money on a room addition, never" If you can
afford it, then go ahead & do it. You will be rewarded
handsomely when sell time comes around.

Regards,
Bill Harbrecht