I believe it averages about 1 and 1/2 % of your appraised value, unless you were able to keep it under Prop. 13. I was sitting fine until I added a pool and billiard room. Then, they got me big time. I fight the County Assessor's Office every year due to the depreciating value of homes in my area, but it falls on deaf ears.
I believe mine is right at 1.5% of my appraised value of when I bought it, My home value has dropped alot but my taxes stay the same and sometimes they threaten with raising them.
I guess I was misinformed then. Someone told me California had very small property taxes but you had a State income tax. So you have property taxes and State income taxes?
Yes we have both. The first house I bought, I was lucky and Prop 13 saved me from having to be reassesed. I paid like $550 a year, when most were paying well over $1000.
I found this searching on google.
Property Taxes
Property is assessed at 100% of full cash value. The maximum amount of tax on real estate is limited to 1% of the full cash value. Under the homestead program, the first $7,000 of the full value of a homeowner's dwelling is exempt. The Franchise Tax Board's Homeowner Assistance program, which provided property tax relief to persons who were blind, disabled, or at least 62 years old, and met certain minimum annual income thresholds, has been halted. The state budgets approved for the 2008/2009 and 2009/2010 fiscal years deleted funding for this Homeowner and Renter Assistance Program that once provided cash reimbursement of a portion of the property taxes that residents paid on their home. For more information, call the Franchise Tax Board at 1-800-852-5711, or visit www.ftb.ca.gov/individuals/hra/index.shtml.
In my area I am paying 3300 a year in property taxes and a 9.75% sales tax on everything I buy after getting taxed over 25% of my income and after paying payroll taxes on my employees. I bet when it is all said and done more than half of my income per year is paid to one government form or another.
In my area I am paying 3300 a year in property taxes and a 9.75% sales tax on everything I buy after getting taxed over 25% of my income and after paying payroll taxes on my employees. I bet when it is all said and done more than half of my income per year is paid to one government form or another.
^ This
While my property taxes are "only" in the $2400 range because I bought a small crappy house BEFORE the bubble inflated I still pay 25% income tax, 10% sales tax, and a whole list of unseen excise taxes. A full 1/2 of my paycheck goes to taxes when all is said and done and it is only going to get worse.
We moved to WA in 1993 from California, and were amazed that the property taxes here are slightly higher than CA. While we have no income tax, there is a ballot proposition to tax people making over $200,000. It's promoted by Bill Gates Senior and opposed by all the other millionaires. It would reduce property taxes and eliminate the B & O taxes on small business. Also, our state sales tax is 9.5%, our gas tax is about the highest in the country.
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