On Monday, August 11, 2014 11:23:35 AM UTC-4, Scott Lurndal wrote:
"Danny D." writes:

trader_4 wrote, on Fri, 08 Aug 2014 11:13:25 -0700:



Out of curiosity, what are the typical taxes on say a nice 3 bedroom 2

1/2 bath home, 3000 sq ft, on about an acre lot?



An acre? Most land out here in Silicon Valley is sold by the square foot,

not by the acre.



Here's a lookup for Saratoga, where I think Steve hails from:

http://www.coldwellbanker.com/real_e...ch/ca/Saratoga



Taxes are roughly between 1.5% and 2% of the price you paid for the

house, so, the MEDIAN property taxes in Saratoga would be 2% of

$1,340,000, which is about $27,000/year, which sounds about right

for where I live also.



http://en.wikipedia.org/wiki/Califor..._13_%281978%29



Taxes, by law, are capped at 1% of the price you paid (see prop 13).

It actually says that it's capped at 1% of the *assessed value*, which
can be totally different, especially for a house bought 20+ years ago.

So, now I'm confused. Danny who lives there said:

"Taxes are roughly between 1.5% and 2% of the price you paid for the
house, so, the MEDIAN property taxes in Saratoga would be 2% of
$1,340,000, which is about $27,000/year, which sounds about right
for where I live also. "

That's 1.5 to 2X the 1% rate, so which is it?
I would think you guys would know what you're paying in real estate
taxes and could do the math. Here in NJ, it works out to about 2% of
actual current market value. And we have a top state income tax rate of 9%.