![]() The Property Tax Is One of the Largest Taxes Californians Pay. Under the Constitution, other taxes and charges may not be based on the property’s value. Although there are some exceptions, a property’s assessed value typically is equal to its purchase price adjusted upward each year by 2 percent. The California Constitution sets the process for determining a property’s taxable value. The taxes due from the 1 percent rate and voter–approved debt rates are based on a property’s assessed value. ![]() This report focuses primarily on the 1 percent rate, which is the largest tax on the property tax bill and the only rate that applies uniformly across every locality. A typical California property tax bill consists of many taxes and charges including the 1 percent rate, voter–approved debt rates, parcel taxes, Mello–Roos taxes, and assessments. This report provides an overview of this major source of local government revenue and highlights key policy issues related to property taxes and charges.Ī Property Tax Bill Includes a Variety of Different Taxes and Charges. The various taxes and charges on a California property tax bill are complex and often not well understood.
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