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allanjgoetz, Home Buyer in Sacramento, CA

What is the property tax?

Asked by allanjgoetz, Sacramento, CA Sun Jan 22, 2012

Help the community by answering this question:


Are you speaking about a particular property or in general?

In general, Prop 13 set the property tax at 1% of the purchase price, and then the allowance to charge for local assessments. it's often estimated at about 1.25% of your purchase price. The actual calculation can be determined when reading your preliminary title report because all local fees would be identified there.

Each year it can increase an additional 2%. Your buyer's agent can help you understand this better. If they have not, then your escrow officer might be able to help in understanding the disclosure. It is described in both the preliminary title report, and also your Natural Hazard Disclosure report.
Web Reference:
0 votes Thank Flag Link Sun Jan 22, 2012
If you're trying to get a feel for how much it would cost you per month to pay property taxes in Sacramento, here is the formula most of us use:

Sales Price X 1.25% = Annual Taxes divided by 12 = monthly taxes

Elizabeth Weintraub
Broker-Associate #00697006
Lyon Real Estate
2 votes Thank Flag Link Mon Jan 23, 2012
In California, Property taxes are 1.25% of the purchase price. We are a very lucky state to have Proposition 13! Property taxes are paid in 2 installments every year and are also a tax write-off.

Anna Maria Kitras
NAR Short Sale and Foreclosure Resource,SFR
Certified HAFA Specialist
1 vote Thank Flag Link Mon Jan 23, 2012

When purchasing a home the property tax will eventually be based on the sales price. After this, it is based on the County Assessor’s valuation (which can be challenged via a Prop 8 Appeal - see blog post below, also see the supplemental tax paragraph that touches on how the buyer "adopts" the seller's tax basis for a short time).

The truth of the matter is there are THREE classifications of “tax” that may be part of any purchase in CA, which you can read about here:

"Estimating Property Taxes in CA"…

0 votes Thank Flag Link Mon Jan 23, 2012
Property Tax- is an ad valorem levy on the value of property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state or a municipality. Multiple jurisdictions may tax the same property.

0 votes Thank Flag Link Sun Jan 22, 2012
To which property are you referring, there is no address or link.
0 votes Thank Flag Link Sun Jan 22, 2012
Do not forget about other special taxes that some areas have. I find it easiest to divide the current taxes by the current assessed value. This will give you the whole tax %. Then multiple your purchase price by this % to see your yearly tax. Or just call me and I will let you know. :)

Jamie Collins
0 votes Thank Flag Link Sun Jan 22, 2012
About 1.1% of purchase price or market value whichever applies to you--you can input your property information here:…
To get more exact answers.
0 votes Thank Flag Link Sun Jan 22, 2012
You need to at least provide the purchase price.

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
0 votes Thank Flag Link Sun Jan 22, 2012
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