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how can you figure out what your monthly property tax would be on a new house purchase?

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October 30 - Los Angeles
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Profile picture for dannybrown
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Since October 2009

LA County property tax is approximately 1.25% of the purchase price /market value.  It's billed bi-annually in November and February, not monthly. 
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November 02
Profile picture for 1986bluestar
I don't think the purchase price is a good indicator Carl, with all due respect but the assessed value of the property as far as the county is concerned, otherwise the formula you give is about right.
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November 01
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Being lazy I would go to city hall and talk to the tax people. They know what taxes are and will be. Go in with the street address ( or map and lot# ). Then the assessor can tell you precisely what taxes are or will be. I prefer to get the right information instead of a guess. Then ask how often that is paid. Divide by the appropriate # of months. The remember that every year taxes will increase. They seem to anyway.
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October 30
Profile picture for SDMortgagefinder.com
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You really need to find out what the tax base is for the county and area that you are purchasing.  Some parts of LA are 1% some 1.25, and some even higher.

Also, you need to know if you have Mello Roos, but this is usually reserved for newer communities.

Good Luck.
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October 30
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As an estimate use 1.25% X Purchase Price and divide the answer by 12 for a monthly amount.  Also the County Tax collector should be able to provide an annual estimate.

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October 30
 

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