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Reply to "Palisades Fire - Los Angeles"
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[quote=Anonymous]Another example of how valuable the land is in Palisades/Malibu. A house by the Getty Villa in Palisdes sold for 5 million dollars a couple of years ago. The LA county office of the assessor lists the property tax as LAND: 4.3 million Improvements: 1 million dollars. So when people are looking at the cost to insurers - it is only for the improvement value not the land value which is the where the majority of the value is. It still is going to massively affect home insurance prices across the state, but only because it is one of many absolutely massive wildfires that have happened in the last few years in more populated areas. [/quote]
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