San Jose Property Tax Rate

Property taxes can be a large expense of homeownership. On the positive side, property taxes support good schools and community services. Conversely, they come directly out of a homeowner’s pocket and can even prevent future homeowners from qualifying for a mortgage. Most importantly, if they are not paid on time the city has the right to repossess your home. Many homeowners have no idea how their property taxes are calculated or even where the money goes. Understanding property taxes can save you time and money.

Property Tax Calculation Methods

This varies from city to city. Smaller cities have appraiser go house by house on a yearly (sometimes every five years) basis to appraise every home in their jurisdiction. This value is then applied to whatever tax rate the city has established to cover their expenses. In larger cities they use an automated valuation method (similar to Zillow’s estimates). Again, this value is applied to the local tax rate. To learn more about the appraisal process, check out How to Influence Real Estate Appraisals.

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