Property Taxes on a Newly Purchased California Home

As a first time home buyer in California, you will need insights into the property taxes expected of you by the state.

What property taxes do you pay in California?

Property buyers in California pay different taxes and charges. The real estate taxes and levies include:

• 1 percent real estate valuation taxes • Taxes to pay for the California for bonds and voter–approved debts • Property assessments taxes • Mello–roos taxes. • Parcel taxes

How do I know the exact taxes for my real estate?

The local county assessor's office or real estate agent can determine the property tax levy for you. In San Francisco, for instance, as of 2016, the total the property taxes and the voter-approved taxes is 1.159 percent.

How do I calculate my real estate taxes in California?

Multiply your new home's price by the property tax rate in your county. When you buy property priced at $500,000 in Francisco, multiply $500,000 by 0.01159. Your yearly property taxes would amount to $5,795. For more information or if you need assistance in calculating property taxes, Vahe Hayrapetian and his team of professionals can help. Check them out on Facebook to know more.

References:
http://homeguides.sfgate.com/calculate-california-property-taxes-newly-purchased-home-2875.html 
http://www.californiataxdata.com/a_free_resources/faq.asp
http://www.lao.ca.gov/reports/2012/tax/property-tax-primer-112912.aspx
http://www.sacbee.com/news/politics-government/capitol-alert/article48004310.html

How to Afford a California Home

Ever since house prices crashed in the 2008 financial crisis, the housing market has been a lot harder and more complex. This resulted to tighter regulations and caution on the part of the banks who issue mortgages. However, there are still a few good ways to ensure that your loan application goes through.


First, make sure you have saved a large down payment. This shows that you have committed to the financial responsibility of the house and you are capable of raising the funds you need. It also reduces the size of the loan, making it easier on both you and the lender.


Next, you should expand your search. Don't just go to the big banks and hope they make you an offer. Instead, rely on the help of a home loan company like that of Vahe Hayrapetian. Vahe Hayrapetian has 18 years of experience in real estate and his company offers loan services as well as realtor services. That covers the whole process of finding a home and then getting the loan you need to purchase it.