Real Estate Taxes FAQ

Property taxes are also known as property taxes and therefore are imposed by a government in returned for services rendered, such as garbage pickup, road cleaning and neighborhood police patrols. They are generally based on the value of their property, together with owners of more expensive real estate paying high real estate taxes.

How Are My Taxes Determined?

Tax rates change, depending upon the positioning of your property. In California, tax rates always include an overall 1 percent tax levy and special taxation which have been voter-approved. These particular taxes are calculated annually based on the amount required to pay principal and interest on a specific debt, according to California Tax Data.

Can I Reduce the Amount I Pay?

It’s possible for anybody who’s having trouble paying their property taxes to qualify for California's property tax postponement or real estate tax assistance programs for residents who are handicapped, blind or 62 decades old or older. It’s also possible, if your annual income is $24,000 or less, to have the state pay all or part of your property taxes. The catch is, the amount the state pays on your behalf comes due once you sell the property or change residences, or upon departure. If your income is $12,000 or less yearly, you might be entitled to property tax assistance where the state offers cash reimbursement for one to pay your property taxes, with no repayment strings attached.

What If I Disagree With the Assessed Value of My Property?

Call your County Assessor's Office to discuss your evaluation with an appraiser if you feel your property was appraised for more than it is worth. If you don't come to an agreement of some sort with that office, then you can file an appeal with the Assessment Appeals Board. There are strict deadlines as to how long you have to submit an appeal, therefore begin the process once you get the evaluation assessment.

How Do Property Taxes Impact the Value of My Home?

It's a fact of life that potential buyers examine the real estate taxation attached to a property before deciding to purchase a home. Careful buyers would like to learn a home's tax burden when determining the total price of living there. If you reside in a place with an especially high tax burden, or believe that your property was overvalued and consequently overtaxed, it can affect the marketability of your home.

What if I Don't Make My Tax refunds on Time?

If you don't make your tax payment by the due date, it will become delinquent and a penalty is added to any unpaid balance. You will generally be given a different date where the balance ought to be paid alongside fees. If you don't pay on this new date, you are hit with a different penalty. Finally, you are given one more date where the whole balance must be paid in full. If you fail to pay, the property becomes tax defaulted and additional penalties and fees accrue.

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