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Due to California's Prop 13, the assessed value can increase based on the Consumer Price Index (CPI) by no more than 2% per year. If a transfer of ownership takes place or improvements are made (there are exceptions), the property will be subject to a reassessment at the current market value. The newly assessed value will then increase on a yearly basis not to exceed 2% per year.For a more defined explanation of California's Constitution Article 13A, or more commonly know as Prop 13, please log onto California Constitution Article 13a [Tax Limitation]. If you would like a broader resource, log onto California Revenue and Taxation Code.You will also want to take into consideration of the possibility of Mello Roos and other special assessments that can adjust and the possibility of reduction of taxes when bonds (Mello Roos) expire or the property values decline (Prop 8).
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For Sale: $475,000
For Sale: $359,000
For Sale: $350,000