Five Property Tax Questions You Need to Ask

What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.

How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.

Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.

Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?

Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright / All rights reserved.

Click here for printer-friendly format

Contact Us

By choosing David and Danielle Contreras at SanJoseHighRises.com as your trusted real estate partners, you gain exclusive access to our extensive portfolio of high-rise properties in the Silicon Valley. Our meticulously curated selection of listings by complexes and areas, are all featured prominently on our website. With our finger on the pulse of the Silicon Valley real estate market for the last 18 years, we possess the insider knowledge required to identify hidden gems, pre-market listings and navigate market trends. Want to be part of the coming soon club?

We understand that purchasing a home is a significant investment, both financially and emotionally. That's why our team of seasoned professionals are dedicated to providing you with unparalleled customer service and support. From the moment we make contact, we will take the time to attentively listen to your unique living situation and help with your best path to home ownership. When working with us we will diligently research properties that align with your preferences, and guide you through each step of the buying process. With our expertise and personalized approach, we are committed to exceeding your expectations and ensuring your satisfaction. Make the informed choice and contact us today to embark on your journey towards finding the perfect home in this vibrant Area Of The Bay.

* Required