Real Estate Taxes

Profile picture for jktacoma
With Sacramento house prices dropping so dramatically, obviously the new tax will not be the same as when the house was worth twice as much. Can I assume that the tax will be proportionate to the new price? That is, if the selling price turns out to be 60% of the previous sale, then the tax would also be 60% lower?
Question refers to 17 Stony Hill Pl, Sacramento, CA 95835
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0Yes

November 19 2009
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Answers (1)

Profile picture for JayEmerson
Property taxes are estimated at 1% of the sale price.  During escrow and possibly for the first property tax bill sent to the new owner, the bill may reflect the prior assessment.  This is corrected over time.
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0Yes

December 09 2009
 

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