San Diego Property Tax Information

Written by Helen Glenn Court
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If you're thinking about buying or selling real estate, you know that San Diego property tax information is important to your transaction and decision. You want to understand at least the basics of the laws and how they apply to you. Maybe you're buying a home for the first time and know only that the interest portion of your portion is deductible from the taxes you owe on April 15 each year. There's far more to the picture than that, however.

The Basics of San Diego Property Tax Information

If you own real property--that is, real estate--you must pay taxes based on the assessed value of the property. Property taxes are local. Exactly what this means varies from state to state, of course. In Virginia, for example, property taxes are based on where you live, but are paid only at the state level--or were when I still lived there. In Maryland, however, you pay taxes at the county and the state level. Know your state laws, it's that simple.

Clearly, the more you understand how the property tax system works in detail, the better off you'll be. Learn the terms of real property, the meanings of those terms, tax rate areas, and tax rates. A great deal of San Diego property tax information is available online. You can look to both government and real estate websites. This information is probably enough to ground you in what you don't already know but need to know. A good starting point is the San Diego County property tax services department.

It's time for a disclaimer. It is true that both your real estate agent and mortgage broker can help you with basic San Diego property tax information. Your broker will explain how your mortgage affects the property tax, that your mortgage includes a tax escrow figure, and that your mortgage institution therefore pays your property taxes for you. Do not rely on them, however, if your issues are complex. They are professionals, yes, but they are not tax lawyers, and do not pretend to be.

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