Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How are Proposition 13 property taxes calculated?

April 26, 2017calculated property taxes Proposition

0

Posted

How are Proposition 13 property taxes calculated?

1 Answer

0

Posted

Unlike Mello-Roos assessments, Proposition 13 taxes are based upon the sales price, so as your home appreciates and is sold, the new buyer has to pay a higher property tax. During your ownership, Proposition 13 limits your appreciation assessment to 2% per year even if your property appreciates substantially more than that. Hurray for Proposition 13!