News From LA County Tax Assessor

Carol Quan, Special Assistant, Los Angeles Tax Assessor, spoke at our Palos Verdes real estate Remax office meeting and gave us an update on property tax reassessment. Before June, the Tax Assessor's Office will pro-actively review 400,000 Los Angeles County single family residences, townhomes and condos purchased between July 1, 2003 and June 30, 2008 to ascertain if there has been a decline in...

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Property Taxes in Palos Verdes

Recently, I answered a question on Trulia Voices regarding property taxes for Palos Verdes real estate and thought it was worth a mention here also. When a property is purchased, it is reassessed by the Los Angels County Tax Assessor using the sales price as the base. The new property tax will be 1% of the purchase price plus any local bonds and assessments (usually averages another .0025 of the...

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