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Property tax in California is at least 1% (typically a bit higher due to various local fees, but let's say 1% for this example). That means if she bought the p
by jjav 9y ago
Property tax in California is at least 1% (typically a bit higher due to various local fees, but let's say 1% for this example).
That means if she bought the property 20 years ago for $150K, the property tax in year one was 1% of 150K, or $1500.
Under Prop 13 property taxes go up 2% ever year (compounded). So after 20 years that property tax would be up to roughly $2400.
- emodendroket 9y agoThat's still pretty insignificant, isn't it?
- gnarcoregrizz 9y agoThe assessed value is $61k, the estimated value (according to zillow) is $480k. Property taxes in 2016 were $640. There is a law where 55+ can transfer valuations if they move within counties that participate. https://www.ocgov.com/gov/assessor/programs/55plus#2179 https://www.ocgov.com/gov/assessor/programs/55plus#2179