You can discover what your property tax bill will be by using this formula: Take 1.25% and times it by the purchase price for the home. So for example let's say you paid $454,000 for a home in Long Beach, CA: $454,000 X 1.25% = $5,675. Now divide $5,675 by 12 (months) to discover you monthly tax payment if you wish to pay your property tax bill over the year within your monthly mortgage payment not this will equal to $472.92.

Now due to Proposition 13, the state of California can only raise your property tax by a specific percentage per year which is, if I can recall this correctly, right around 2%.

One final note here...If you had purchased a home in Long Beach during the peak period. You can actually have your property value reassessed to lower your property tax bill. Just be aware that there are companies out there who attempt to scam you in charging you for this process, when in reality it is a free to do.

Here is a link to some information on Nevada:

http://tax.state.nv.us/property_tax.htm

In california it is 1% of the assessed value plus any special taxes voted in by certain municipalities. This is from the Tax Assessor of Los Angeles' site at http://assessor.lacounty.gov/extranet/guides/realprop.aspx

In 1978, California voters passed Proposition 13, which substantially reduced property tax rates. As a result, the maximum levy cannot exceed 1% of a property’s assessed value (plus bonded indebtedness and direct assessment taxes). Increases in assessed value are limited to 2% annually. Only four events can cause a reappraisal:

1. A change in ownership;
2. Completed new construction;
3. New construction partially completed on the lien date (January 1); or
4. A decline-in-value (see Market Value Decline - Prop. 8).