Property Q&A in 95817>Question Details

joycemfc2012, Home Buyer in Sacramento, CA

how can I find the cost of the yearly property tax on the house?

Asked by joycemfc2012, Sacramento, CA Sun Jan 27, 2013

Help the community by answering this question:


Ute is correct that there may be adjustments, but in the end you will be paying on
your purchase price. If you pay less because the seller's bill is lower (their assessed
value is less than your purchase price), you will eventually get a catch up bill called
the "Supplemental Tax Bill" which may call for 1 payment or break it into 2 payments
to catchup with what you should have paid. If you pay more than you should because
the seller's asessment is higher than your purchase price, the overage will actually
be returned to you in the form of a check from the county as a "negative Supplemental
Tax Bill". In either situation you will eventually get to the place that the property taxes
you pay have been adjusted to reflect your purchase price. This situation is because
the adjustment to a tax due based on sales price occurs when you transfer ownership,
but the tax collector takes time to adjust their may take a full year before
everything is straightened out.
0 votes Thank Flag Link Mon Jan 28, 2013
The statement that you will pay property taxes based on your purchase price is not entirely correct. While the property is re-assessed after the close of escrow, and the new base tax will be based on the purchase price (i.e., 1% of purchase price) the prorated tax you pay at the close of escrow is based on the seller's current property tax amount. For example, let's say the current owner pays $3,000 annually and you close escrow on January 31. Your portion of the prorated tax (i.e., February - June) would be based on the $3,000, regardless of what the purchase price is.

If the post escrow reassessment results in an increase in property value, the supplemental taxes will be calculated based on the change in value, and one or possibly two supplemental tax bills will be created and mailed to the new home owner. If the reassessment results in a reduction in value, a refund should be mailed to the new home owner. Since a reduction in value will not automatically reduce the amount due on the annual tax bill, the annual tax bill must be paid in the amount originally billed. That's why the prorated amounts paid at close of escrow are based on the current tax bill.

You can look up the current tax bill for any property in Sacramento County by conducting a tax bill search on the county assessor's website for which Keisha has already provided you the link. The tax bill will include the base tax plus any applicable special assessments. Please note, the special assessments will not change after the property value has been reassessed. Only the base tax rate will be adjusted based on the purchase price.
0 votes Thank Flag Link Mon Jan 28, 2013
Ute Ferdig -…, Real Estate Pro in New Castle, DE
What Sue said. Upon transfer of the property the property tax rate in California is 1% but can be as high as 1.25% is there are local assessments (bonds/mello roos) added on.

0 votes Thank Flag Link Mon Jan 28, 2013
We are all assuming that you are trying to calculate is for a new home that you are purchasing. At the time of purchase, unless you are family to the seller, the tax is calculated at teh 1-1.25% tax rate. (the amount over 1% per prop 13 is based on some local assessment that may play).

If you are related to the seller, there is the possibility that you could 'inherit' their lower tax base.

Your lender will discuss this with you in the purchase of your new home especially if you are going to be paying your taxes and insurance as part of your monthly payment by establishing an impound account.
0 votes Thank Flag Link Mon Jan 28, 2013
In the county of Sacramento, you can also use the link below to determine your anticipated property tax.

Hope that helps!

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
"The Short Sale Lady"
Century 21 Landmark Network
(916) 370-1803 cell/direct
(916) 405-3886 fax
lic#: 01439130
0 votes Thank Flag Link Sun Jan 27, 2013
If you are a buyer, you will be paying taxes based upon your purchase price.
Based on supposition that there are no Mello Roos taxes your annual
property tax will vary a bit, but will be in the range of 1% to 1.25% of the sales
price. ie a $100,000 home will have annual taxes of $1,000-1,250.
0 votes Thank Flag Link Sun Jan 27, 2013
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