stloboda, Home Buyer in Queens, NY

Does price shown as tax for 2013 in Property Taxes and Assessment section ($8,896) include costs of electricity, gas etc. for this property?

Asked by stloboda, Queens, NY Tue Feb 4, 2014

What are mandatory taxes of this property, except to HOA?

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John Oldfield, Agent, San Francisco, CA
Wed Feb 5, 2014
The $8,896 you're seeing in the "Property Tax" section of the listing is just that -- the property tax. It does not include any utilities which, in San Francisco, are billed directly by PG&E for gas and electricity or the SF Public Utilities Commission for water/sewer. Each condo usually has its own meters for gas and electricity but there may be only one meter for water/sewer for the entire complex in which case that cost will be divided up by the HOA and passed to each of the units either as part of the monthly HOA fee or as a separate charge.

Once sold the property will be reassessed to its selling price. The current property tax rate is just under 1.2% of the assessed value so you can estimate what your property tax will be by multiplying the purchase price by 1.2%. Generally, under Prop 13, the property won't be reassessed until sold to a new owner (there are some exceptions such as major work done with permits). Also under Prop 13 the property tax rate can only increase a maximum of 2% each year.

Hope that helps.

John Oldfield
BRE# 01292184
Prudential California Realty
1715 Polk St., San Francisco, CA 94109
415-762-9608 office/voicemail/fax
415-816-4742 Mobile
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J Mario Preza, Agent, Burlingame, CA
Wed Feb 5, 2014
If you're referring to the property taxes, they are typically based on the final sales price, and a percentage of that (to be re-assessed) once the property is recorded. However, the tax bills bill be sent at the exiting owners' rate until the system is updated, and in the interim you'll get a supplemental tax bill to make up for the difference. What it includes, in some communities these include fees for mello-roos, public works, school, etc., but, it is usually outlined on a preliminary title search, or on the actual tax bill.
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