What are the taxes in this property....

That's a pretty good explanation of property taxes in California, Endre!

Good morning Endre. 1.25% was a good figure in a market I recently left with a little plus or minus! Enjoy your day!

Hi Endre --- this is especially helpful for relocating buyers.  It's important to know the different "other fees" that are a part of the property tax bill.  

In Oklahoma everything is in the property taxes. Since I almost everything new to investors and before an assessment it is important that I give accurate numbers instead of trying to make the retuen better. No one likes bad surprises.

Hi Endre - Great information for LA residents. Taxes can be complicated and obscure, and it's our responsibility to ensure that our clients understand their impact up front in the process.

Endre here in CT the mill rate will run anywhere form .20 to .60.  So we have a very big range.  However I would say for most towns a Buyer can expect to pay 2.5% - 3% of the selling price.

But we also have to keep in mind that CT house prices are much lower that they are in your area of the country.

Endre compared to many states our tax rates are cheap!  And yes CA is pulling mega millions with the high cost of homes there and high taxes.   I heard somewhere along the way your state was close to bankrupt - that doesn't make any sense??

Hi Endre!  Yes, this is great information to share with relocation clients but, as you mentioned, even the locals don't understand it! Our rates are calculated every 4 years and next year will be our year to update everything. 

Oh and if you're coming from most states, you'll LOVE our tax rates...and cost of living in-general!  I say you, Diane and those fur babies just go ahead and pack up - and head to Charlotte! 

It is an important number to know Endre, we have this number handy in the mls listing.  But it is generally subject to change if the property sells for more or less than the assessed value.

Hi Endre, 

I just wrote a comment about "Mello Roos" taxes in CA. This was always my biggest concern because each new area had it's own assessment. Many buyers shied away from these areas but these areas also grew faster and appreciated faster as well.  I don't know what the situation is today in CA. 

Before Prop 13 came - My in-laws thought they might have to sell their home because the taxes were getting to be more than they could afford. Prop 13 allowed them to keep their home. It was the best thing CA ever did. 

Thanks, Endre.  This is a good explanation for taxes in the LA area.  Often, a very confusing subject for buyers.

Our tax rates vary in Clark County, I finally made a spread sheet to show typical taxes on a $500K purchase. I like your  explanation though and quick computations. D 

Endre Barath, Jr. - This is a very important blog post. With so many Foreign Buyers coming to America and investing in properties, it's a legitmate question and needs to be addressed by everyone, regardless of where they live. Taxes are very complicated, especially when selling, thanks to FIRPTA and International Investors.