Property Tax is charged on a two things. The first is the value of the land and the second is the value of the improvements or the structure on the property. If your buying a new home the tax is on both the land and the home which totals the total cost of what you paid for the property. The tax is 1.25 per thousand.
If you are looking in Sunnyvale, I was born, raised, working and still living right here in Sunnyvale. I know the area well and would be willing to help answer any questions you may have with no obligations.
See my website for daily email alerts on just the homes your looking for.
There's more prop tax info there.
If you are purchasing a bank owned home, you also want to check to make sure that back prop taxes are not owed on the property. Although the standard CAR purchase agreement calls for fair prorations to be made in escrow, I always write it into the purchase contract anyways. Don't want my buyers to get stuck paying old property taxes. A lot of the bank owned foreclosures are behind in prop tax payments. To check an address you can utilize this website: http://payments.scctax.org/payment/jsp/histSecured.jsp
When you purchase a home the seller must disclose the assesments the he or she pays. The value of your property has little to do with the with the value of the land or structure, but the price your paid for your home. If your value declines you can file a temporary Prop. 8 review however, that will not change whats refered to as your Prop. 13 value, that will always remain the same.
Property tax is computed at $1.25 per thousand dollars of the purchase price of the property. As an example, a home that cost $400,000.00 would have yearly property taxes of $5,000.00 a year.