Property Tax Calendar
Most Tahoe buyers want to know, what can they expect to pay in property taxes on the new Tahoe home. In California Proposition 13 limits the base tax rate to 1% of the purchase price, with the right to increase the tax base purchase price 2% each year there after, so the base tax value will increase over time and so will the tax amount due.
In addition to the 1% property tax most counties have additional tax payer approved add on’s. In the Lake Tahoe – Truckee, California area ( Placer County, El Dorado County, and Nevada County), as a general rule for general tax planning/budgeting amounts, you can use approximately 1.25% of the purchase price as your initial basis. This amount will give you a good approximate number for your annual budgeting plan.
This is not meant as professional tax advice, but to be used for general budget planning purposes and is a general guideline. Please seek and consult with an appropriate tax planning professionals for more information property tax planning.