How much is property tax in California?
The property tax in California can vary from year to year. However, to calculate the California property tax for one's home is quite simple. The tax can not exceed more than 1% of the home's value and can not increase more than 2% from the previous year.
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How can you avoid negative tax ramifications for the transfer of the title and loan of a property from parent to a child in California for a property that was purchased 4 years ago?
Prop. 58 . \nYou need to file a Propositon 58 with the Assessor's office. This is an exclusion for reassessment when the transfer of the real property is between parent and child. To get the full exclusion you must file within 3 years of the tranfer/recoradation, otherwise the exclusion would be…gin with the current fiscal year. ( Full Answer )
In the San Francisco East Bay (Castro Valley, CA) we pay 8.5 cents on the dollar.
There is no way to answer this question with the limited information, contact the city and county collectors and an insurance agent for this answer.
The property taxes and mill rate is determined by county, city, andmunicipality. Contacting the taxation department in the local areashould be able to provide this information.
Answer . Answer depends on where you live. No one answer fits all scenarios. Property taxes are based on "assessed values" of property i.e what your property is worth at a particular point in time compared to SIMILAR properties in your area that have SOLD within a 3 to 6 month period. Once you… have the assessed value established, then you multiply that by the "millage rate" or Mills or as a percentage i.e 1 mill is 1%. If the area your property is in had any new bond levies or bond passages, typically school and hospital, fire district improvements, the your millage rate will be higher than an area that did not acquire any new levies or bond passages. Example: $100,000. assessed value X .013856 (millage)=$1,385.60 annually. Check your county auditors office for millage rates for your area. ( Full Answer )
\nJust far enough until you pass out from shock and when you revive you can't remember this question.
The property tax rates are set in each town. You would need to contact the town in which you are interested.
We live in California-community property state.My husband owns his own business. I am not listed as part owner. We file our taxes jointly. Am I responsible?
If his business is an S-Corp, incorporated or an LLC then the only thing on your joint taxes should be his income (in the form of a job-based income), not any business-related taxes or revenue.. If he is a sole-propriater, and claims all his business income on your joint taxes, then your filing, as… a couple, has equal liability. ( Full Answer )
Taxed both Federally and State at your ordinary income rate, it's just like any other income, whatever that rate for you would be - (depends on many factors, dedcutions, other income, other expenses, businesses, etc).. The State and Fed will withhold an amount of the payout as an estimated tax (lik…e payroll withholding), until the actual tax for that person, that year is determined. ( Full Answer )
Approximately 10% of the purchase price. Ca sale tax is 8.25, title is is the cost of one month payment (the initial first 3 years approximately), and license is approximately 200.00. Hope that helps.
California no longer collects inheritance tax. This law wasabolished in June of 1982. Any inheritance received is tax free inthis state.
it depends on the price of the home you purchase. the less the appraised value is, the less you pay in taxes. the higher the more money spent on taxes. its safe to say about 1.25% of your home purchase price is due annually. for example a 169k home purchased would be 2112 bucks per year. payable in …2x payments or one lump sum. of course you can save in installmenst and set aside for the lump payment ;) ( Full Answer )
Depends on many things...especially how much was paid in and other deduction income considerations.....thats why a reutrn needs to be filed.
You are the only one that has all of the necessary information that will have to be reported on your 1040 FEDERAL income tax return for the year in order to do the calculation for the numbers that you are looking for. After you complete your 1040 federal income tax return correctly to your TAXABLE… INCOME and page 2 lines 43 and Line 44 you will know the amount of your income liability before any credits or other taxes. Continue from Line 45 to the last lines at the bottom of the 1040 page 2 and then you will know how much taxes you will have to pay if any after you complete your 1040 income tax return correctly. ( Full Answer )
If an owner of property does not pay their property taxes then the town has the power to take possession of the property and sell it under state laws.
For Single filing status, 2008 tax is $678,597 (2million multiplied by 35 percent minus $21,403). For Married Filing Jointly, 2008 tax is $671,575 (2 million multiplied by 35 percent minus $28,425). For Head of Household, 2008 tax is $675,409 (2million multiplied by 35 percent minus $24,591).… The actual tax liability would be more or less depending on yourother income, any income tax withheld from your other earnings,etc. This answer is incorrect if you are referring to PROPERTY TAX, andproperty tax rates are different in each County. Most counties inCalifornia on avg are in the 1.5% range but along with that, thereare other factors that must be taken into consideration. Because Sonoma County uses a complicated formula to determine theproperty tax owed on any individual property, it's not possible tocondense it to a simple tax rate, like you could with an income orsales tax. You can rest assure it wouldn't be the high rates given in theanswer above. This person must have been looking at somethingdifferent and not property sales tax ( Full Answer )
California lottery winnings are not subject to California income tax, but they are subject to federal income tax and to income tax in other states if the winner is not a California resident. If you are a non-resident alien, they will withhold $7200. If you are subject to backup withholding, $67…20. For everyone else, $6000. Remember, the amount they withhold is not the actual amount of taxes that you owe on your winnings. That amount can only be determined when you fill out your Form 1040 at the end of the year. You may end up owing a lot more at the end of the year or getting a refund at the end of the year. In addition, if you are not a California resident, you may end up owing your home state a lot of money at the end of the year. ( Full Answer )
If you are an individual taxpayer, add together all of the property tax payments you actually made during the calendar year and enter the total on federal Schedule A on the line that says "Real Estate Taxes." Include only payments you actually made during the year. If you make a payment late, deduct… it in the year you paid it, not in the year it was due. ( Full Answer )
Depending on where you live or where you buy something it is 8%+. Some cities/counties are almost 10% these days.
There are all sorts of taxes in California: income tax sales tax property tax cigarette tax liquor tax estate tax gambling tax and hundreds of others.
"How much tax money does California get back from the federal government?" is the question in my mind too. I did ask Senator Babara Boxer's office by web comment at her web page, got no answer.
State is now 8% but it could be more depending on where you buy it. Different cities/counties add to the basic tax. Some places are nearly 10%. Our registration fees have now doubled too, so if you get a new car think of that. My Pruis will now run me 250.00 for a 5 year old car this is up from the …174.00 I paid this year. ( Full Answer )
Its all based on the city and county you live in. Contact the assessors office in your city and they will tell you exactly. You can reduce your tax assessed if your property value dropped in recent years. Do not over pay!
The property tax rate for Hamilton Twp NJ is 3.763% which is the 2009 rate. The 2010 tax rate will be released with the 3rd Qtr billing due 8-1-10. Many towns are late to establish a tax rate and hence extend the third quarter due date. To calculate the property taxes per year charged to your pr…operty: Example: The total assessment of your property is $50,000 per the municipal tax assessor office. $50,000 times .03673 (decimal format) Equals $1,836.50 property taxes billed/owed per year regarding your property. This is the total amount billed for 2009 calendar tax year. . 2010 first and second quarter will equate to one half of the total 2009 taxes billed.. New tax rates are always established during the 3rd quarter of the year in towns such as Hamilton which use a calendar tax year (only other option is a fiscal tax year).. ( Full Answer )
Depending where the car is purchased and registered. Cities, counties have different tax bases. If you purchase a car in Tracy (8.750%) or Tahoe City (8.250%) and registered the car in Pleasanton (9.750%) or Oakland (9.750%) DMV would charge the additional monies.
Property taxes are simply the property tax rate for the area you live in multiplied by the tax assessed value. The tax assessed value does not always equal the market value, so you need to find out what the tax assessor has your property appraised for. It could be higher or lower than market. If …it is higher, then you may be able to appeal to the tax board to get your assessed value lowered. Property tax rates can vary widely by area, so check with your local tax assessor. ( Full Answer )
The property tax rate in your local area will be the same per year no matter how you acquired the property. The rate will be a percentage of the value of the home.
There is no property tax on cash. The property tax on land or real estate valued at 5.9 million dollars will vary depending on the location, the purchase price and (in California) the purchase date.
How much is the tax on a pack of cigarettes in California and can you deduct that tax on your taxes?
Are you on drugs? You want the government to give you back the taxes you pay on cigarettes? You realize that the reason the taxes are so high is mainly as a deterrent to smoking, as well as to generate revenue. Why would they give you this money back!!
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc that they will have to withhold from your hourly pay or gross of 55000 for the year after every thing is withheld from your …gross pay to equal your take home pay. ( Full Answer )
You do NOT have any taxes, or other amounts that will be taken out of your NET take home paycheck after it is issued to you. The employer payroll department would be the only one that should be able to tell you how much they will be required to withhold from your GROSS salary, wages, etc. for all …of the different taxes and other amounts that they are required to withhold from your gross pay before they issue you the NET take home paycheck. ans I have no idea why the above contributor thinks you asked anything that has to do with after a "net" pay, your question is clearly how to determine going from gross to net, as it concerns taxes. (Many other things may be taken out of pay, even "net" pay, like automatic deductions to savings/credit union, etc, etc). There is no specific fixed amount or percent. Two people working at the same job, making the same wage may (an almost always do) have much different amounts required to be withheld. THE AMOUNT WITHHELD IS DETERMINED BY YOU...NOT YOUR EMPLOYER, THE IRS OR ANYONE ELSE. It depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax. The amount of tax withheld depends obviously o which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be required), as well as your filing status, number of dependents and other deductions (like interest on a mortgage) or contributions to 401K, or medical and other benefits you selected, etc., etc. All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. The variations are so numerous that again, it is fair to say that it would be uncommon for 2 people, working at the same job making the same salary would have the same amount withheld. There are even a number of different legal ways for the payroll provider to calculate the amount to withhold considering all the above...but overall they make only a small difference. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty and interest charges). Again, adjusting your W-4 is the way to correct for any of these circumstances. Just follow the instructions and examples for that form and you should have a very close amount for what is needed withheld for your situation...if for any number of reasons including those above, the situation changes... you will need to change the W-4. ( Full Answer )
The property tax rates are set in each town. You would need to contact the town in which you are interested Go to the below enclosed website for more information brtweb.phila.gov/ The Department of Revenue is responsible for collecting real estate taxes. Please visit the Department of Revenue W…ebsite for information regarding the billing, collecting and accounting of real estate taxes. You may also access a property's real estate tax balance information on the Department of Revenue Website from the BRT Property Search Service . 3.305% (CITY) + 4.959% (SCHOOL) = 8.264% (TOTAL) To determine your tax due amount take the total rate times your assessment. Please refer to the Board of Revision of Taxes website at brtweb.phila.gov to find your assessed value. ( Full Answer )
Most likely. However, the change in assessed value may not be as much as the cost of installing the swimming pool. Contact your local property assessor to find out how they treat the valuation of swimming pools for assessment purposes.
Yes, but the FTB would need to go through a judicial process designed to gain the target state's bank. If it were a bank in, say Nevada, and it was a Nevada corporate account, that would take quite a while for the FTB if they could do it at all. Added: If the bank in question was a branch of a ba…nk operating in CA the court could serve the lien papers on the bank's registered agent in the state of California. ( Full Answer )
The Kings County Tax Collector holds public auctions of tax-defaulted properties in Lemoore and all towns in the county. These tax sales are conducted online. You have to put down a deposit in advance of the auction and the winning bidder is obligated to purchase the property. These properties are s…old as is, so make sure to research and inspection before you bid. ( Full Answer )
$36.38 billion per year (US dollars per year) (country rank: 1st) (2009) More data at the Wolfram|Alpha link
It's treated as capital gains; you only pay tax on the profit (the amount you sold it for, minus the amount you paid for it plus any improvements you made). "How much" varies, if you can't figure it out, you should probably consult a tax professional.
The state can record a lien against your property for any amount you owe. The state can record a lien against your property for any amount you owe. The state can record a lien against your property for any amount you owe. The state can record a lien against your property for any amount you owe.
One mill is a real estate tax levy of 1 dollar for every one thousand dollars of assessed value. The real estate levy is known as the millage rate. For example, if your city or county has a current millage rate of $21 per $1,000 of assessed value and the current assessment for your home is $100,000,… the annual real estate tax levy would be $2,100 (100,000 divided by 1,000 = 100 multiplies by $21.00 = $2,100). Not all states use a millage rate (rate per 1,000) some set a levy rate per $100 of assessed value. Ask you local assessor to be sure. ( Full Answer )
It does not seem unreasonable that people who own property should contribute toward municipal expenses. Of course, we can still question exactly how much tax is an appropriate level, or what kinds of municipal spending is appropriate, and whether we should have a more inclusive tax instead, that tax…es everyone equally whether they own property or not. All political issues (much like religious issues) are endlessly debatable and are endlessly debated. ( Full Answer )
Check with your county's tax revenue department or other department that handles local property taxes..
In the United States of America, county level tax assessors keep track of the assessed value of the property and the amount of taxes due and amount paid. These are public records.
Property taxes in all states depend on the size of the property and its location. In Ohio homes have property taxes in the 1.5 - 2.5 % range of the purchase price. Ohio also has city wage taxes generally in the 2% to 3% range.
Residential property insurance in California will vary greatly depending on the amount of coverage, the location of the property, the hazards covered (for example, whether earthquake, subsidence or other special coverage is needed), and many other factors. For accurate information specific to your s…ituation and needs, it is best to contact agents and receive quotes or use a comparison quoting service such as that offered by the State of California. This service allows homeowners to not only check rates on insurers but investigate their licensing status and other information and is available through the state insurance board website. ( Full Answer )
A tax Id number is used to identify a business entity. Usually all businesses need a federal tax ID number. In California, you have to go to the IRS website and fill out the forms required to get tax ID number. These forms are free.
The taxes in California varies by what city in California someone is in. The rate varies of 4% to 7%. This rate for general goods. People in California also pay an income tax.
It's a city tax you pay twice a year on your property-based onpurchase price, generally it is taken care of for you by mortgageservicer out of escrow acct monthly. They set aside based on whatis projected and pay it when billed for you. The percentage isdifferent for ea. state. if it's 1 percent and… house was 100k forexample it's 1k per year/2 500.00 payments. Your escrow acct isperiodically reviewed and will be adjusted up/down to cover ifnecessary along w/HO insurance etc. ( Full Answer )
Property taxes are taxes on the value of owned property. Sometimes they are classified as either specific or ad. PropertySpecific taxes are of a fixed amount based on a number, or standardof weight or measurement. Ad property taxes are based on a fixedproportion of the value of the property with re…spect to which thetax is assessed. ( Full Answer )
The California sales tax rate is currently 6.25% . However,California adds a mandatory local rate of 1.25% that increases thetotal state sales and use tax base to 7.5%. Depending on localmunicipalities, the total tax rate can be as high at 10.0%.
The property tax is determined by the value of the land and houseso it can vary. Another factor is when the house and land wasbought or sold. The date can determine the property tax. In the1970's a tax plan was put into place that determine what ahomeowner pays.