Comment by pc86
10 days ago
It's not in California, there are several states that do this. California is not actually the worst because at least my understanding with California is that there is a public formula you can run based on lot size, sale price, and/or assessment value to figure out your tax liability. So basically you can figure out what your taxes will be like for any offer you make.
It's just market value.
> *SECTION 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed One percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties.*
(https://leginfo.legislature.ca.gov/faces/codes_displayText.x...)
At sales time basically the sales price establishes the assessed value for taxes.
Again, this isn't a precise reading, but the general idea.