Home Buying in Torrance>Question Details

J.O., Home Buyer in New York

Where is a good,save place with good schools and low property tax in California state?

Asked by J.O., New York Sat Aug 25, 2012

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3
Hi, You can visit http://www.HomeFair.com for in-depth crime stats and area demographics. For schools you can visit http://www.SchoolDigger.com, http://www.GreatSchools.org, and http://www.SchoolMatters.com

Chris
0 votes Thank Flag Link Sat Aug 25, 2012
Hi J.O.,

California has a state law that decides property tax for properties within the state. When buying real estate the property tax is re-assessed at the time the property Title records. The new tax will be 1% of the purchase price as the base line tax. Add to this any additional local bond issues, assessments in place and any other misc. type expenditures. When I consult with my Buyer clients I use 0.25% as a good rule of thumb for estimating the new property tax to cover for these extra items. In total then use 1.25% as your guide.
When deciding what area to live in I recommend focusing on most other items other than property tax to influence your choices.
Feel free to contact me if you are not presently working with an agent/broker to help you with your search.
Regards,
Bruce
DRE:01004069
0 votes Thank Flag Link Sat Aug 25, 2012
You have a lot of good options regarding good schools and good neighborhoods. Before I would worry about property tax, it would help to know what price range you are in and whether you want to be near the coast or you want to be inland.

Feel free to call me if you want to discuss.

Michael Magaw
310.259.6850
0 votes Thank Flag Link Sat Aug 25, 2012
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