Home Buying in Redwood City>Question Details

Mike Quinn, Home Buyer in Redwood City, CA

Est. Property Taxes

Asked by Mike Quinn, Redwood City, CA Sat Nov 22, 2008

What are property taxes based on and how can I find out what an approximate tax bill is going to be on a property I am considering purchasing?

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Answers

4
The way most agents and bankers do it is to multiply the purchase price by 1.25%. You need to find out if there are any assessments as well.

Mike, alwasys work your numbers from a worst case scenario and you will never get hurt. You might also want to check with your CPA before you purchase as well.

Good Luck,

Dave Tap Tapper
Web Reference: http://Teamtapper.com
1 vote Thank Flag Link Sat Nov 22, 2008
Mike
all the answers below are generally correct.
purchase price is the biggest factor in determining property taxes.
i generally estimate 1.1% to 1.2% on an annual basis.
in most disclosure packets, there will be a geo/flood/environmental/tax disclosure.
with that info you can calculate more precisely.
Arn
0 votes Thank Flag Link Mon Jan 26, 2009
A quick and simple way to calculate San Mateo County taxes is just to multiply by 1%. So $400k home would be $4000 a year or about $333 a month if you have impounds on your loan and prepay each month. Follow Scotts advice below if you need to calculate to the penny. Title company can help out too. In California property taxes remain a little more stable because of prop 13 and can only go up so much a year. States like Hawaii adjust to a present value each year. If you aren't working with another agent I would be glad to show you homes and help you with the process.

Thanks,

Glen
Web Reference: http://www.maui4rent.com
0 votes Thank Flag Link Sat Nov 22, 2008
First you should check with the city or towns assessing office if it is an existing house. most towns and cities now have this information online. go to google and just type in name of town, state and assessors office. if it is new construction then you will use the sales price and multiply it by the tax amount per thousand to get your estimated tax amount. i hope this helps.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Nov 22, 2008
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