Yes, Prop 13 is at the heart of this matter. We typically estimate 1.25% of the purchase price, but that only estimates the voter approved bonds. 1% of the purchase price + voter approved debt (bonds) + special assessments.
The 1% of purchase price can increase 2% per year. So in your case first year $2350 + voter approved debt + special assessments. Second year $2397 + voter approved debt + special assessments.... more
You may be able to qualify for a home to buy-call Malcolm Stevens 310-350-6252 for FHA financing-this way you never have to rent again-we have 3% downpayment loans at bank of america-I have 2 homes that are coming up for sale in Lakewood-none for rent-
thank you,... more