Obtaining a higher mortgage can be a huge tax benefit and one of the major benefits associated with real estate ownership.
When you'll be purchasing your new home, it is important to understand the tax ramifications associated with it and I can aid you in avoiding some common pitfalls that may occur in the property tax process.
Annual tax bills are mailed once a year by November 1. The first installment is delinquent if payment is not received on or postmarked by December 10 and the second installment is delinquent if payment is not received on or postmarked by April 10. You will also have a one-time supplemental property tax based on when escrow closed and the sale amount. This amount may be calculated on the Los Angeles County Tax Assessor's site.
The California property tax is approximately 1.25% of the sale price of your new property.
Would you like to be contacted about my real estate services? If so, please fill out the brief real estate request form below. Please note there is absolutely no obligation and all requests will be responded to in a timely fashion.