Los Angeles Area Property Tax Rate is 1.25% of fair market value.

Real property is subject to ad valorem taxation; meaning homes are taxed in proportion to their value. Local government entities may also impose charges on real property which are not ad valorem taxes, but are also seen on your tax bill. In each change of ownership (Sale), a PCOR (Preliminary Change of Ownership Report) is sent to the Assessor's office. If your tax is increased, you do have the opportunity to appeal this decision with The Board.

Prop 13:In effect since 1978, this law controls the growth of real property taxes. Since 1986, the tax rate is 1.25% of fair market value.

Exemptions:Homeowners have an exemtion of $7,000 of assessed value.
Veterans:Veterans have an exemption of $4,000.

Tax Rate Areas (TRA's):Homes are subect to various taxing entities. These can include the County, a City, a School District, and other various districts. Each TRA is numbered and appears on your Tax Bill.

Property Tax Postponement:There is assistance if you are over 62, blind, or disabled.

Tax Due Date:The phrase "No Darn Foolin Around" is a sure way to remind yourself of when taxes are due and then delinquent. "No"=November 1st (Tax Due), "Darn"=December 10th (Tax delinquent), "Foolin"=February 1st (Tax Due), "Around"=April 10th(Tax delinquent).

New Homeowners: Even though known taxes are prorated at the time of your escrow close, it is still possible that all taxes have not been paid to the Tax Collector. You, as a new homeowner are responsible for these taxes. Call 1-(888)-807-2111 to determine if any annual taxes are due.

City Transfer Tax: Outside of L.A. County, some Cities (Charters) have their own Transfer Tax Rate that is in addition to the 1.25% of market value. Culver City=$4.50 per $1000, Los Angeles City=$4.50/$1000, Redondo Beach=$2.20/$1000, Santa Monica=$3.00/$1000.

Please Contact Thomas Ray