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In today's video, I discuss figuring out what your property tax will be when you're buying a home. Property taxes are an important element of figuring out your monthly payments, or what you owe annually. Also, when you go through the qualification process, lenders factor in property taxes. Knowing what the property tax will be ensures that you are properly qualified.
Every neighborhood is a little bit different. Most of us in Riverside County pay a base rate of approximately 1%. However, certain communities have special assessments, or community facility districts, that add to the amount you're required to pay with your taxes. When you work with a real estate agent, we can look at tax rates for different areas and tell you how much those special assessments will be, as well as what the special assessment money is going toward.
New homes built after the year 2000 generally come with special assessments, especially if they are in an incorporated area. If high taxes are more than you can stomach, you may want to focus on older communities. Homes built before the year 2000 are more likely to have lower taxes.
Remember, the important thing is to find out what the taxes are in an area before you make an offer on a property. If you have any questions about property taxes, or real estate in general, please give us a call or send us an email. We would love to hear from you!
Every neighborhood is a little bit different. Most of us in Riverside County pay a base rate of approximately 1%. However, certain communities have special assessments, or community facility districts, that add to the amount you're required to pay with your taxes. When you work with a real estate agent, we can look at tax rates for different areas and tell you how much those special assessments will be, as well as what the special assessment money is going toward.
Remember, the important thing is to find out what the taxes are in an area before you make an offer on a property. If you have any questions about property taxes, or real estate in general, please give us a call or send us an email. We would love to hear from you!
