Susan Manning answered:
Aneta, when most people ask what the property tax rate is, they are essentially asking what the Effective Tax Rate is. What is the effective tax rate? It is the tax base (somewhere between 1% -1.15% in our area) plus the amount of the assesments calculated in to the assessed value.
Every house in our area has assessments. Some houses have higher assessments than others. Yes, some have Mello-Roos, and some do not. The assessments never change.
Here's something to think about: Because the assessment never changes, when the price of the house changes, the effective tax rate changes. Recently we have seen a dramatic drop in our home values. Becase of this our Effective Tax Rate has gone up! Think about it, if a house was worth $400K and the assessments were $1200 a year then the Effective Tax Rate was about 1.3-1.4%. If that same house is now worth only $250 the Effective Tax Rate of that house is now about 1.5-1.6%.
Interesting, huh?
If you have any questions or would like further information about this math problem, I am happy to review it with you! Thank you for your time!!
Every house in our area has assessments. Some houses have higher assessments than others. Yes, some have Mello-Roos, and some do not. The assessments never change.
Here's something to think about: Because the assessment never changes, when the price of the house changes, the effective tax rate changes. Recently we have seen a dramatic drop in our home values. Becase of this our Effective Tax Rate has gone up! Think about it, if a house was worth $400K and the assessments were $1200 a year then the Effective Tax Rate was about 1.3-1.4%. If that same house is now worth only $250 the Effective Tax Rate of that house is now about 1.5-1.6%.
Interesting, huh?
If you have any questions or would like further information about this math problem, I am happy to review it with you! Thank you for your time!!
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