Pasadena Real Estate Property Taxes

How much will I pay in property taxes when I buy my home in Pasadena? How are property taxes calculated on an existing Pasadena home?

I’ve been getting a lot of property tax questions lately and decided to write a quick post about how consumers are affected when they buy a home in Pasadena or surrounding cities.

In 1978, California voters passed Proposition 13. As a result, the Los Angeles County Assessor can not exceed more than 1% of a property’s maximum assessed value plus any additional bonds and other city specific taxes.

What this means to the Pasadena home buyer is that when you purchase your Pasadena home, the assessor will base your home’s property tax bill on approximately 1.2% of the price that you paid for it. 1% for Los Angeles County and a little less than .2% for city bonds, taxes, etc.

For example, if you paid $500,000 for your Pasadena home expect your annual property tax bill to be around $6,000 or $500 per month.

Ongoing, the Assessor will raise your property tax bill due to annual inflation which can not exceed 2%. Going back to our previous example:

Year 1 – Pasadena Property Tax Bill = $6,000 appx. annually

Year 2 – Pasadena Property Tax Bill = $6,120 appx. adjusted for inflation

Year 3 – Pasadena Property Tax Bill = $6,242 appx. adjusted for inflation

And so on…

There are some exemptions that are available to Pasadena homeowners that you should be aware of:

The most common is the Homeowners’ Exemption: if your Pasadena home is your principal place of residence (Assessor always looks at January 1st, i.e. if you are living in your home as a principal residence on Jan. 1) you may apply for an exemption of $7,000 from your assessed value. The assessor made it pretty easy for home owners and will automatically send an exemption application. Please beware of companies out there that will send you an official looking document asking you to pay for them to file the exemption form on your behalf. They are out to take advantage of you. This exemption will save you, the homeowner, approximately $70 per year on taxes. Once you file this exemption, you do not need to refile it.
Veterans’ Exemption: If you are a veteran or a surviving spouse of an eligible veteran, you may apply for a $4,000 exemption applied to the assessed value. You do not need to reside on the property for this exemption. There are asset requirements that apply. Please call Assessor’s office for more information on their guidelines at 213.974.3399. This exemption must be filed each year.
Disabled Veteran’s Exemption: If you are a disabled veteran who is blind in both eyes, has lost the use of two or more limbs, or is totally disabled as a result of injury or disease incurred in military service, you may be eligible for an exemption of up to $150,000 of the assessed value of your home.

Please feel free to email me with additional questions regarding property taxes or use the comment section to ask them. Hope you find this information useful.

If I can be of any assistance with your Pasadena Real Estate needs, please do not hesitate to email me or call me at (626)629-8439. Thank you!

Latest Pasadena Homes for Sale:

Fri, 03 Feb 2012 15:24:00 +0000: $579,000 :: 1178 North Sierra Bonita Avenue, Pasadena CA, 91104 - Pasadena Craftsman Homes for Sale

3 beds, 2 full, 1 part baths
Home size: 1,540 sq ft
Lot Size: 7,500 sq ft
Added: 02/03/12, Last Updated: 02/03/12
Property Type: Single Family, Residential
MLS Number: 22161054
Community: Pasadena Ne

This charming Craftsman Bungalow on the eve of its 100th birthday will please any aficionado with its authentic details. The home was remodeled and expanded in 2004 with no expense spared, providing the owner with a new expansive gourmet kitchen and master bedroom suite. The fully enclosed, flat backyard with grassy play area also boasts a 2 car garage built in 2004 and a 200 square foot detached bonus room that can be an office, exercise room or studio. This delightful home includes a California basement, whole house security, central air/heat, ceiling fans, double pane wood frame windows in the addition, and partial upgraded electric. Situated in a quiet NE Pasadena neighborhood with sidewalks, mature shade trees and old style street lights, it is also conveniently located near shopping, freeways, San Gabriel Mountains hiking trails trails and the best home made ice cream place in all of Pasadena! What's not to like!

Listed with Cheyenne Wilbur, Podley Properties

Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com!
Fri, 03 Feb 2012 14:16:00 +0000: $305,000 :: 460 Anderson Pl, Pasadena CA, 91103 - Pasadena Craftsman Homes for Sale

2 beds, 1 full bath
Home size: 832 sq ft
Lot Size: 4,252 sq ft
Added: 09/29/11, Last Updated: 02/03/12
Property Type: Single Family, Residential
MLS Number: P798083
Community: Pasadena Nw
Tract: 0 (OTHR)
The price of this listing was last reduced on 2/3/2012 by 6%

Try to find a remodeled beauty for a better deal than this! If you want the most bang for your buck, you have found it. The hard wood floors are spectacular. The kitchen has new granite counters with a trendy subway tile back splash. It comes with brand new, never before used, stainless steel appliances (diswasher, stove/range, and microwave). The fireplace looks stunning with it's new tile finish. The inside and out have been freshly painted. The bathroom is completely remodeled. The backyard is perfect for entertaining and the new lawn and landscaping (sprinklers included) give it that sharp manicured look. This is a standard sale! What are you waiting for?!

Listed with Ellis Younger, T.N.G. Real Estate Consultants

Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com!
Fri, 03 Feb 2012 12:54:00 +0000: $399,000 :: 739 N Wilson Ave, Pasadena CA, 91104 - Pasadena Craftsman Homes for Sale

2 beds, 1 full bath
Home size: 922 sq ft
Lot Size: 7,506 sq ft
Added: 02/03/12, Last Updated: 02/03/12
Property Type: Single Family, Residential
MLS Number: P810965
Community: Pasadena Ne
Tract: ) (OTHR)

This charming 1905 home located in the Bungalow Heaven Landmark District, charming neighborhoods, beautiful tree-lined streets. Spacious 2 bedrooms freshly painted inside and outside. Bright and flowing floor plan with gorgeous hardwood floors, brand new kitchen, appliances and beautiful granite counters. There is a room off the kitchen that could serve as an office, den or library. Huge backyard with a sizable shed

Listed with Michelle Nguyen, Terra Investment Services

Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com!
Fri, 03 Feb 2012 12:16:00 +0000: $425,000 :: 81 North Craig Avenue, Pasadena CA, 91107 - Pasadena Craftsman Homes for Sale

2 beds, 1 full bath
Home size: 1,180 sq ft
Lot Size: 9,006 sq ft
Added: 01/31/12, Last Updated: 02/03/12
Property Type: Single Family, Residential
MLS Number: 22160918
Community: Pasadena Se

Great Home & Buy!

Listed with Nizar Kailani, Re/Max Premier Properties

Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com!
Fri, 03 Feb 2012 11:50:00 +0000: $245,000 :: 161 W MONTANA ST, Pasadena CA, 91103 - Pasadena Craftsman Homes for Sale

3 beds, 1 full bath
Home size: 991 sq ft
Lot Size: 5,040 sq ft
Added: 11/16/11, Last Updated: 02/03/12
Property Type: Single Family, Residential
MLS Number: 11567741
Community: Pasadena Nw

Perfect for a Starting Family, Adorable 3 Bedroom 1 Bath House, Big lot with City Light Views.

Listed with Houtan Hormozian, Crestico Realty

Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com!