What are real estate taxes?

Real estate taxes are taxes that are paid to a governing body (such as a state or local municipality) for the privilege of owning a piece of property in a particular jurisdiction. In California, the amount of real estate taxes paid is usually calculated based on the assessed value of the property. Typically, the assessed value is determined by an official assessor and can be affected by factors such as the size and condition of the property, its location, and the number of bedrooms and bathrooms. Real estate taxes must be paid annually and are collected by the county in which the property is located. The collected funds are then used to fund schools, police, and other public services provided in the community. Additionally, real estate taxes may also be used to pay for infrastructure projects such as road construction and sewer lines. All in all, real estate taxes are an important source of revenue that allows local municipalities to provide necessary services to the community.

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