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Property Q&A in 95817 : Real Estate Advice

  • All9
  • Local Info3
  • Home Buying1
  • Home Selling0
  • Market Conditions0

Activity 3
Fri Jun 10, 2016
O Jones asked:

Is there anybody that can give me a rough estimate of what my houses would cost? My situation is a bit unique so I can't just readily go to zillow etc. to get an idea. I have…
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Wed Sep 10, 2014
arthurburk asked:
This question was asked from this property:
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Mon Jan 28, 2013
Patrick O'Hare answered:
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.
... more
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