If we buy property in Yuba City, will the property taxes change to reflect the new purchase price?
Craig Under propostion 13 when ever there is a new purchase or title transfer the property value will automatically get reassessed and property taxes reflect the new purchase price. On the other hand there are homes that are enrolled for proposition 8 and in that case there property value will be reassessed each year on Jan 1st by the tax assessor and new value will be based on the current market value and new purchase price. In short to answer your question if you buy property in Yuba City the property taxes will change based on the new purchase price. If you would like we can chat in detail on this topic.
