Our property taxes here are guided by California Proposition 13 passed during 1978, which limits assessed value to be increased no more than two percent per year, and that property tax would be one percent of assessed value. The amount of appraisal does not go into that equation.
So if you buy a home at The OC for $500,000, your appraised value of the home after purchase would be $500,000, and your annual property tax would be $5,000 (plus special small assessments like vector control district and schools).
Best wishes to you and your family.
Harrison K. Long, Explore Group Properties, Coldwell Banker Previews.
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