What to Expect for Property Taxes in Los Angeles and Beverly Hills
By Christophe Choo Posted Mar 14, 2023 Beverly Hills, Latest Updates, Market Activity, Videos
What to Expect for Property Taxes in Los Angeles and Beverly Hills | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
As a buyer, one of the most important things to consider when purchasing a property in Beverly Hills or LA are the property taxes. In Los Angeles County, the property tax rate is approximately 1.25% of the purchase price. This means that if you were to buy a million-dollar home, you would pay about $12,500 in property taxes each year, split into two payments due on November 1st and February 1st.
Additionally, the LA County Tax Assessor can adjust the tax rate based on fluctuations in the market.
Overall, property taxes are an important consideration when purchasing a home in Los Angeles or Beverly Hills. Make sure to factor them into your budget and consult with a real estate professional for more information.