Old news, but one to be reminded of - This article told of property taxes falling and I was hoping I would be one of the lucky few... and sure enough got a letter in the mail the next day that said my taxes had fallen by about $400 thanks to Proposition 13 (1978) which limits real estate taxes to 1% of the transfer price or market value, whichever is lower.
This is a huge benefit to homebuyers today. If you buy cheap, there's not just the fact that your monthly payments will be low and you will actually have the opportunity to buy low and sell high, it also means that your property taxes (one of the factors in your mortgage payment) will be lower!
Wednesday, July 4, 2007
Sacramento Real Estate Taxes Falling!
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2 comments:
Aren't property taxes falling because home prices (and any equity you thought you had) are falling?
Why not wait until prices fall even more?
Scummy,
Good question. Because almost no one has been able to time the bottom of the market. And prices can and will rise evntually. That is just a fact of Sacramento real estate. How, you ask? Here's how.
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