We are planning on moving to bay area from chicago. which county has least tax rate ? Though this is not the deciding factor i would like know some details on tax rate. thanks.
Hi Shanthi,
The 'ad valorem' or 'by value' tax on property is the same throughout the Bay Area.
What changes might be special assessments or additional taxes for things like schools, libraries etc.
In most cases these special additional assessments are less and $100 or $200 per year in total. In some cities, like Los Altos for instance, there is an extra levy for schools which can be up to $500 per year. This isn't common, however.
Best wishes,
Aileen
Hi Shanthi,
Proposition 13 limits the taxation of property to 1.2% of a property’s assessed value (as a Buyer this is the sales price), plus any special assessments and improvement bonds approved by the voters. Property tax increases are limited to a 2% increase in the assessed value of the property per year.
County Sales & Use Taxes can be found here: http://www.boe.ca.gov/pdf/pub71.pdf
Best, Steve
Didn’t find what you were looking for? Ask a question!
|
|
|
|
|||||||||||
|
|
|
|
|
|