new2irvinenoob
New member
Hello All-
I'm looking to purchase my first new home around orange county and saw a lot of new developments in the Great Park area. There are a few move-in ready new construction that I could hop on either before the end of the year or in Feb 2023. The sales rep gave me a vague ~20K for property taxes for a particular property (sale price of 1.16Million detached condo) that I would owe if I purchase the new construction property. But when I read the fine print on all the potential special assessment taxes etc, it came out to about $65K. I'm no expert on property tax rate but it seems my calculation is way off. Does anyone have any insight on their property tax bill if they recently recently bought out in Great Park this year?
I was able to get a parcel #, but the county assessor website showed a that a portion of the $65K was from a 1.0% Basic Levy Rate on a land value of 4.5 million which I presume is the tax on the entire land. Maybe I'm not readying it correctly? Just want to be sure I don't get a property tax sticker shock. Again I'm new to the homebuying purchase so I've been trying to understand all the property tax nuance.
Thank you everyone!
Ben
I'm looking to purchase my first new home around orange county and saw a lot of new developments in the Great Park area. There are a few move-in ready new construction that I could hop on either before the end of the year or in Feb 2023. The sales rep gave me a vague ~20K for property taxes for a particular property (sale price of 1.16Million detached condo) that I would owe if I purchase the new construction property. But when I read the fine print on all the potential special assessment taxes etc, it came out to about $65K. I'm no expert on property tax rate but it seems my calculation is way off. Does anyone have any insight on their property tax bill if they recently recently bought out in Great Park this year?
I was able to get a parcel #, but the county assessor website showed a that a portion of the $65K was from a 1.0% Basic Levy Rate on a land value of 4.5 million which I presume is the tax on the entire land. Maybe I'm not readying it correctly? Just want to be sure I don't get a property tax sticker shock. Again I'm new to the homebuying purchase so I've been trying to understand all the property tax nuance.
Thank you everyone!
Ben