Question about property tax (Sacramento: 2015, new home, buying)

[davidt1]

House was purchased on 01/25/2014

Will my 2014-2015 tax bill be based on the new purchase price?

Or will it be based on the old base line/price?

Thanks.

[DMenscha]

You will get a supplemental tax bill. The base rate is determined on value as of the 1st of January. Watch out for the supplemental bill, it may not be submitted to your bank if you have an impound account.

[davidt1]

Thanks for the response. I came across Sacramento County Assessed Value Look-up website, entered the parcel number, then got the 2014-2015 assessed value for the property.

Prop8Viewer

I hope the information I got from their website is accurate.

[pdizo916]

property taxes are too damn high.

[DMenscha]

Originally Posted by pdizo916

property taxes are too damn high.

move to New England and report back to us about high property taxes.

[things and stuff]

Theres no reason that an out-of-state investor should pay a lower property tax rate than a new home owner just because their company has owned the property for longer.

[pdizo916]

Originally Posted by dmenscha

move to new england and report back to us about high property taxes.

rhode island, doe!!!!!!!!!!!!!!!!

[ferretkona]

Originally Posted by things and stuff

Theres no reason that an out-of-state investor should pay a lower property tax rate than a new home owner just because their company has owned the property for longer.

I think the CA property tax is the fairest of all the states. Based on purchase price.
My folks owned their home for 30 years and paid $200 a year for taxes. They bought their ranch 15 years ago and pay $350 a year.
Other states go over budget and raise taxes to compensate.

[marcopolo666]

Originally Posted by davidt1

House was purchased on 01/25/2014

Will my 2014-2015 tax bill be based on the new purchase price?

Or will it be based on the old base line/price?

Thanks.

To answer your question (trying to pull the thread back from other topics) ...

The property taxes you pay will be based on the new purchase price (provided that you aren't one of the very few people with 'special cases' - such as buying the property from your parents). When I bought my house (years ago) I paid the increased tax difference - diff between what the sellers had already paid in taxes, and what MY taxes would be - when I bought the house (can't remember if it went directly to the govt or it went into an escrow acct to be paid later). Since taxes are due in Nov & Feb, you should get a correct tax bill soon (if you have already bought the house) - I haven't gotten my 2014-15 prop tax bill yet.

Also, altho you didn't ask, the tax will be 1% PLUS whatever additional taxes the voters have added on over the years - it changes by city and county and sometime even by school district. And whether it is called an 'assessment' or 'tax' (or something else) - you still have to pay it. My total prop tax bill is currently around 1.3% of the assessed value.