Property Taxes

Many people often do not factor in property taxes into their second or third homes. You may have gotten used to a lower property tax bill on your existing home and are now in for an adjustment. The tax assessor’s office bases your taxes on a percentage of the purchase price of your home. In Los Angeles County, the assessor’s office asks for 1.25% of your property’s assessed value per year. When you buy a new home, you usually begin paying the seller’s old property tax bill until the county “catches you up” with a large supplemental bill. You may however be eligible for exclusions that transfer your property taxes if you are for example over the age of 50, have status as a veteran, or granting the property to a family member. There is a form called the "PCOR" or Preliminary change of ownership request" that will dictate your tax exemption to the assessor. Double checking with a CPA and the tax assessor's office is of course your best bet as there may be an exclusion that fits you better than another.

To find out more information about taxes, please call 310-867-3579 or visit the contact page.

Return To Before You Sell >