How do I calculate property taxes?

Updated 3 months ago ​by Open Listings

How Do I Calculate Property Taxes?

In a nutshell:

In California property taxes are calculated by multiplying the property's tax assessed value by the tax rate. The standard tax rate in the state is set at 1 percent. Thus, homeowners pay 1% of their property's value for real property taxes.

What is included?

The property tax rate is composed of three types of levies: general tax levy (1%), voter approved indebtedness repayment, and special/ direct assessments. A special assessment is a fee charged by the local government against real estate for certain public projects of which that property will directly benefit from. (i.e. street paving, sewer line installation, police/fire protection, etc.)

Here is an example of an annual Property Tax bill:

Sample Annual Property Tax Bill