Re:Evidence for the “great resignation” is thin on the ground
by tedd4u on Tuesday December 07, 2021 @09:42PM
(#29480713)
That SF number isn't accurate. The 2021-2022 rate is 85% higher (1.18248499%). [1]
Another important thing about property taxes is to know when an updated assessed value is triggered and if there are any limits on how it changes. For example in SF, the assessed value is basically set to the sale price, immediately. But then the assessed value doesn't change until there's another property sale (or permitted improvements are made).
In some states assessed values are updated every year regardless of sales or improvements. [2]
Another important thing about property taxes is to know when an updated assessed value is triggered and if there are any limits on how it changes. For example in SF, the assessed value is basically set to the sale price, immediately. But then the assessed value doesn't change until there's another property sale (or permitted improvements are made).
In some states assessed values are updated every year regardless of sales or improvements. [2]
[1] https://sftreasurer.org/property/secured-property-taxes
[2] https://taxfoundation.org/state-provisions-property-reassess...