How to calculate Property Taxes
Hi, I'm closing escrow on a house on Monday and I was curious how property taxes work and are calculated. We bought the house in San Diego county for $325,000. Right now the taxes are like $6,000 a year. I hear that they can be reassessed but most likely will be paying the $500 a month for a while.
1. At what point should I apply for a reassessment?
2. Anyone know what real taxes would be on the property? I heard something about Proposition 13 in California but don't know too much.
Thank you for any help!