How much would the taxes be on a 2 million dollar dream home in Sonoma California?

Answer 1

For Single filing status, 2008 tax is $678,597(2 million 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 (2 million multiplied by 35 percent minus $24,591).

The actual tax liability would be more or less depending on your other income, any income tax withheld from your other earnings, etc.

This answer is incorrect if you are referring to PROPERTY TAX, and property tax rates are different in each County. Most counties in California on avg are in the 1.5% range but along with that, there are other factors that must be taken into consideration.

Because Sonoma County uses a complicated formula to determine the property tax owed on any individual property, it's not possible to condense it to a simple tax rate, like you could with an income or sales tax.

You can rest assure it wouldn't be the high rates given in the answer above. This person must have been looking at something different and not property sales tax