How are property taxes computed?
The burning question everyone has is naturally related to their property taxes and how much they will be. Here is the formula: Full Cash Value x Assessment Ratio = Assessed Value x Tax Rate = Annual Property Tax The general tax rate is about 1.3% of Full Cash Value. For example: A home with a Full Cash Value of $500,000 will in general have property taxes of approximately $6500. $500,000 x 10% = $50,000 x 13% = $6,500 which is the same as 1.
