Question:
“We’ve been driving around pulling property flyers from for sale signs. Why don’t the realtor flyers show the taxes on the property?”
Answer:
Because the taxes the current owner is paying are irrelevant.
In California, properties are reassessed when they’re sold. The approximate rate is 1.1% of the price per year. And that goes up 2% per year. Meaning…
If you buy a home for $1,000,000, the taxes will be about $11,000 per year. And the next year it can go up 2% to $11,220. And then the next year it can go to $11,444, etc.
Other states calculate property taxes different ways. So in some states it DOES matter what the current owner pays. But not in these parts…
