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Foreclosure in 93306 : Real Estate Advice

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Sat Aug 16, 2008
John Hickey answered:
Hi Ken,

Scott & John are not in California and are not aware of our tax structure. A constitutional ammendment in the 1970's provides that taxes are based on the purchase price of the house. It may only be adjusted upwards by 2% per year and it may be reduced temporarily in times of declining prices.

You're figure of 1.211% is pretty close. What we use is the Purchase Price as reported to the county from the sales contract times 1.25%

Hope that helps.

John Hickey
Dilbeck Realtors, GMAC
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