hartleyparen…, Home Buyer in Moreno Valley, CA

why are the property taxes so high?

Asked by hartleyparent69, Moreno Valley, CA Wed May 9, 2012

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Answers

7
Property tax rates differ from county to county and even city to city.

If you buy a home in a new or newer development you may have a special tax which helps pay for building and maintaining roads, parks, and schools. These "special" taxes are usually in effect for a specified period of time.

You can contact the county tax office of the city you are thinking of buying in. They can tell you WHERE those precious tax dollars go.


Good news is as a property owner the property taxes you pay can be written off on our federal tax return.

As a renter you pay your landlords taxes ( they usually factor that into the monthly rent they charge) and you do not get to write it off:)

Best of luck to you!!!

Kawain Payne, Realtor
0 votes Thank Flag Link Wed Oct 30, 2013
0 votes Thank Flag Link Thu May 10, 2012
Jory, good job on the video.
Flag Thu May 10, 2012
Hi , please watch this video I made that explains taxes , assessments,mello-roos,etc:



Thank you,


Jory Blake
Web Reference: http://www.JORYBLAKE.com
0 votes Thank Flag Link Thu May 10, 2012
Which area are you looking in? In order to answer this question, I'd need more info.

If you're working with a Realtor, they can go over the individual items on the tax roll and explain each one. If you're not working with a Realtor, I suggest you get one right away. If your serious about finding a home, the first and foremost step in purchasing a home is to get with a Realtor. Check with friends and family to see if they can refer someone to you or research sites, such as this one to find a good professional Realtor. Your second step is to get pre-qualified for a loan. After you find a Realtor, he or she will have you meet with the lender that he or she uses regularly.

Please let me know if you have any questions and good luck with your home search!

Ray Wright
Realtor
Keller Williams Realtor
Direct: 951-354-1303
Email: RayWright@kwrealty.com
0 votes Thank Flag Link Thu May 10, 2012
I am an agent located here in Moreno Valley. Are you looking in the 92555 neighborhoods? Maybe off JFK/Moreno Beach?
0 votes Thank Flag Link Wed May 9, 2012
hartleyparent69:

A popular question, no doubt. I common "rule of thumb" estimate is 1.25% as Daniel has mentioned.

However, you actual location plays a role, and in fact, your effective property tax bill actually consists of three separate levy categories, which you can read about below:


"Estimating Property Taxes in CA"
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/…

-Steve
0 votes Thank Flag Link Wed May 9, 2012
Property taxes are based on %1.25 of the purchase price of the home. Additionally if it is newer construction you probably have special assesmens added on for new schools, roads, parks etc which can easily add up to an additional couple thousand dollars on your tax bill
0 votes Thank Flag Link Wed May 9, 2012
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