7 ms·
> That can still happen with today's real estate taxes Not in California. The maximum annual increase in assessed property value is 2%, and property tax is lim
by twblalock 10y ago
> That can still happen with today's real estate taxes
Not in California. The maximum annual increase in assessed property value is 2%, and property tax is limited to 1% of assessed value. This only changes when the home is sold.
It's pretty unlikely for anyone to be forced out of their homes because of property tax increases.
- mahyarm 10y agoMella-roos can increase property taxes in California too. For example in oakland it adds 0.35% to the tax rate for a total of 1.35%
- prostoalex 10y agoThere's Mello-Roos, there's special assessment, there are parcel taxes. As long as you don't call them "taxes", you can exceed the 2% and 1%.