As a buyer of a Carlsbad home, or anywhere for that matter, it is important to know up front what your property taxes are going to be. Why, you might ask?

First, property taxes can be fairly substantial, to the tune of thousands of dollars per year. In Carlsbad, where California’s Proposition 13 regulates our property taxes to a max of 1% of assessed value (assessments can rise only up to 25 per year until a change of ownership), the tax rate varies from about 1.027% to 1.048% plus special fees and bonds. (Keep in mind that property taxes in YOUR local may be very different, and perhaps more costly - check with your town’s tax assessor).

Second, the property taxes will be figured into the calculation by your mortgage broker to determine who much of a loan you can qualify for, along with insurance, your debts and other things. While these taxes are TAX DEDUCTIBLE, you still have to pay them up front, so the lender wants to be sure that you will be able to do so.

Keep this in mind when looking at your personal budget and plan accordingly. You might want to estimate high on what your taxes might be, say 1.2% - 1.3% for Carlsbad so you are prepared (especially if there are Mello Roos such as in new construction subdivisions).

Read more on property taxes for Carlsbad here.

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