California

Information

If you live in California or want to move there, join this group. Other people sharing your interest in California Real Estate can then find you easie…

Location: California
Members: 34
Latest Activity: Sep 21

Resources

California's State Housing Authority - Learn about your home ownership options through your state's housing authority.

Californian Foreclosure Counseling - Get help with your foreclosure problem and answers to many of your foreclosure questions by contacting the Rural Community Assistance Program, funded by Californian tax dollars.

California Property Taxes
First, check with your County Assessor's web site to see if they have a property tax tool available. If they do, you can easily estimate your tax by searching the property's address. Ventura County, for example, has a tool where you can search by either the property address or by the Assessor Parcel number. You can also cross reference the assessed value from last year's bill with this year's estimated tax rate by multiplying the assessed value by 1%, then multiply the result by the total tax rate amount returned for your district for this year (in bold). You will need the Tax Rate Area number, located on the bill, to find out the exact tax rate for the property's area.

If your county does not offer that type of tool, you can generically estimate your future property tax following the general guide below:

Property is assessed at 100% of full cash value. The maximum amount of tax on real estate is limited to 1% of the full cash value. So, a safe way to estimate your annual property tax for a new home is figure out what 1% of the home's value is (not purchase price) and go from there.

Other Useful Property Tax Info: The California Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home. The home must have been the principal place of residence of the owner on the lien date, January 1st. To claim the exemption the homeowner must make a timely filing of a simple form with the county assessor. A partial 80% exemption may be granted for homeowners who file a late affidavit and claim for exemption with the assessor between February 16th and December 10th. The claim form, BOE-266, "Claim for Homeowners' Property Tax Exemption," is available from your county assessor.

California also has a property tax postponement program that allows eligible homeowners (seniors, blind and disabled residents) to postpone payments of property taxes on their principal place of residence. Interest is charged on the postponed taxes. More information on that here.

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4 Comments

Comment by Gregory Annett on September 21, 2008 at 8:46am: Hi California Group,
I just joined HUD Network, I'm looking for opportunities to use my talents to fix up properties for rental. I am looking to own rental properties, but will consider helping stage ( get ready for rent or sale ) for other people. I live in the north bay area, Sonoma County, so likely areas would be Marin, Sonoma, and Napa Counties...

Best regards,
~Gregory~

Comment by Raffi Ibrahim on September 9, 2008 at 12:55pm: Hi California, my name is Raffi,and I'm an agent. Anybody interested in buying,selling, refi, short selling his/her property, I can help them. Even for sale by owners are welcomed. please give me a call:626-755-5707(I DO NOT close my phone after5-PM).

Comment by HUD Foreclosed on September 4, 2008 at 3:27pm: Any particular area(s) or town(s) you're looking to focus your investments in? If you have a more general question about researching foreclosure investments, be sure to browse through our "Ask and Expert" and "All About Home Buying" forums, as you might find some useful information there from community members who had related questions. Who knows, you might even find a few contacts while browsing. We've seen the beginnings of a few investment partnerships grown in this little community.