Re: How does the property tax in California work?
- From: nobody@xxxxxxxxxxx
- Date: Sat, 31 May 2008 14:59:43 -0700
On Thu, 28 Feb 2008 09:46:06 -0800, LDC <ldcolton@xxxxxxxxxxxxxxxxxxx>
wrote:
On Thu, 28 Feb 2008 07:56:50 -0800 (PST), WDS <Bill@xxxxxxxxxx>
wrote:
On Feb 27, 10:40 pm, Jack Hamilton <j...@xxxxxxx> wrote:
icanl...@xxxxxxxxx wrote:
How do they calculate it? I heard it was very fair and logical unlike
where i live(Texas). Anyone care to explain? Thank you.
Horrors! What could they possibly be like in Texas, if they're worse
than here?
In Texas it is apparently almost completely dependent on the locale
you live with some exceptions for seniors. In CA it looks like is
limited to 1% of full value statewide with all kinds of exceptions
including seniors. Of course the same house in different locations
can have huge differences in value (sometimes by many multiples) so
comparisons of property taxes are difficult, even within the same
state.
You sorta left out an important detail. Property tax in CA is 1% of
the SELLING PRICE of the house, with an annual inflation adjustment,
limited to 2% of the tax. Taxation based on selling price is vastly
different than one based on "value." Selling pricing is typically
easy to identify whereas value is a purely subjective determination.
There are some exemptions, but they do not apply to the vast
majority of home owners. There are also some local add-ons to the
1% that have been approved by local elections, but usually they have
a minimal impact of the overall tax bill.
I don't know what part of CA you live in but around these here parts
of Southern California those little "add-ons" increase my property tax
bill almost fifty per cent and cities and "improvement zones" are
adding them on as fast as they can sneak them by voters.
.
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