Berkeley CSUA MOTD:Entry 44945
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2025/05/24 [General] UID:1000 Activity:popular
5/24    

2006/10/24-26 [Reference/Tax] UID:44945 Activity:nil
10/24   How does property tax affect the value of homes? Is there a good
        correlation between a state's property tax rate and its averaged
        assessed home values? For example I've heard that Texas's proprety
        tax is over 2X of CA but equivalent home values are approximately
        less than 1/2.
        \_ More expensive homes don't cost (significantly) more to provide
           services for than cheaper ones.  Therefore if two different areas
           both need to collect $X in taxes to provide services, and the homes
           in one area cost more on average, the area can afford to tax at a
           lower rate and they'll still collect $X.  Duh.
        \_ No, there is not. IOW, California real estate is not expensive
           simply because property taxes are on the lower side. For
           example, Connecticut's property tax is just over 2% and yet
           property values are higher than Texas.
        \_ *IF* all else being equal, higher property tax rate will mean lower
           home sale values because it increases the cost of ownership,
           which (in Alameda county) will mean lower assessed values.  But in
           reality there are too many other varying factors which obscure the
           picture.
2025/05/24 [General] UID:1000 Activity:popular
5/24    

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