I just got hit with a $12k supplemental property tax bill for my house I bought last year. Combined with the regular property tax bill coming in Oct for $14k, I will be paying $26k this year in property taxes.
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07-19-2021, 11:00 AM #1
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07-19-2021, 11:09 AM #7
I bought my house last year and last year I paid the property tax based the assessed value before the sale. It's normal for the county to play catch up and send a supplemental bill a later date.
The previous owner had a very low property tax bill because of Prop 13 and they owned the house since the 60's.Last edited by FrankGrimesJr; 07-19-2021 at 11:15 AM.
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07-19-2021, 11:12 AM #8
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07-19-2021, 11:18 AM #9
Yeah the common rates here are between 0.8-1.2% but the assessed home value is usually lower than the sale price. Taxes are based on the assessed value. So I'm building a house that would sell for 1.2-1.3 but the government assesses the value to be 700k. So I end paying around 7k in taxes.
Your taxes are scary.**Spicy Big Butt Latina Crew**
**Sexual Deviant Crew**
**Unregistered Sex Offender Crew**
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07-19-2021, 11:22 AM #10
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07-19-2021, 11:26 AM #11
We generally get assessed the straight sale price. However it appraised for $1.25 million when I was buying it last year.
Then the assessed value goes up 1% every year. That's why someone who bought a house for $20k like 50 years ago pays less than $1000 a year for property tax now.
When the parents pass on the house to their kids, they continue to pay the very low property tax bill.
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07-19-2021, 11:36 AM #12
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07-19-2021, 11:39 AM #13
What city/state? Those property taxes sound like a lot of its over a million dollar home brah. What are you expecting?
The alternative is move somewhere with decent property tax rates. Spend 300-500k on a 4 bedroom 3 bath home that's 2200-2300ish square foot.
If your buying a million dollar home I assume your the top 1% in your city/state income wise... Or you live in an over-priced area where a 1 million dollar home is the normal.
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07-19-2021, 11:48 AM #14
San Francisco Bay Area
I'm not surprised. I actually expected to get the supplemental bill a lot sooner. But they sent it a year over I bought the house. Even though I expected it, it still hurts when I actually received it.
I could have bought a $400k 3000 sqft McMansion going east towards the central valley but its hot and the commute that far really sucks.
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07-19-2021, 11:51 AM #15
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07-19-2021, 12:17 PM #28
I waited on the side lines for prices to go down since 2015 only to see them keep going up.
Last year when the coronavirus was just starting, the real estate market was uncertain and I saw owners taking their homes back off the market or lower the price to make a quick sale thinking the prices were going to drop even more later on. I thought about how the analysts were always wrong so I went with my gut. April 2020 the owner already dropped the price by $50k after the house sat a month on the market. Then my offer was another $50k lower than their lowered asking and they accepted. A month later the market went crazy. I found out the previous owners were pissed at their agent for pushing them to make the quick sale.
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07-19-2021, 12:20 PM #29
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07-19-2021, 12:21 PM #30
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