Property Taxes (Sacramento, Foothill Farms: sales, real estate, renters)

[Balco9]

How are property taxes in the Sacramento area annually?
For an average home with 4 beds, 2.5 bath, 2200 sq ft, and lot size of 7500sq ft...
Thank you.

[ferretkona]

Property taxes are 1% in CA. If you buy a house for $500k, your yearly tax will be $5k.

[Balco9]

Thank you ferretkona...
That is the same as Washington State, that is still outrageous
compare to Arizona's property taxes...

[Guingirl]

We bought our house for 469K and our taxes were about 6000K per year.

[kettlepot]

While the base rate is 1%, most areas will have a little bit extra tacked on for bond repayment, and vermin control, and a few other sundry charges. More accurately, you can assume a property tax rate of 1.1% to 1.2%. Unless you're in an area that is Debt Happy with lots of renters voting to incur debt that they won't (directly) have to pay for.

[killer2021]

Have to also factor in the income tax rates. Low property taxes might also mean you have high personal income taxes.

Just take Texas for example, they have high property taxes (2-3%) but no state income taxes.

[Guingirl]

Yep..in CA we were paying 6000 in property taxes and about 5000 in income taxes. In TX, we are looking at paying property taxes of about 11K.

[KidBlue]

CA real estate taxes start at 1 percent of the sales price and then increase 1 percent per year (the annual increase can't be more than 1 percent). Local communities can also approve increases for schools, police and fire, libraries, etc. that are in addition to the 1 percent. Real estate can also be reassessed periodically and the taxes would then be based on the new value.

[BearBranch]

In
Sacramneto I was paying about 3800 in property taxes on a 1850 sf home in Foothill Farms, plus state income taxes of 5%. In Texas, I'm paying 4000 in property taxes on a 3100 sf home with no state income taxes in a forested country club planned community (Kingwood)22 minutes from Minute Maid Park

[kettlepot]

Originally Posted by KidBlue

CA real estate taxes start at 1 percent of the sales price and then increase 1 percent per year (the annual increase can't be more than 1 percent). Local communities can also approve increases for schools, police and fire, libraries, etc. that are in addition to the 1 percent. Real estate can also be reassessed periodically and the taxes would then be based on the new value.

Looks like KB's numbers got a little mixed up. It's a 2% annual increase, not 1%. Also, just to be clear about the reassessment. That only happens when a property is sold, otherwise the 2% annual increase holds. Then, as he said, there are additional charges that can be levied if approved by the voters. Some are subject to a 67% requirement, others to a 55% one.