How are property values determined?

Property values in California are determined according to the California Property Tax Law. This law sets out how property taxes are calculated and how property values are assessed. Property values are calculated using a variety of factors, including the market value of the property, the condition of the property, and the location of the property. The market value of the property is based on what it could sell for on the open market. This is determined by looking at recent sales of comparable properties in the area. The condition of the property is also taken into account, including the age, size, and condition of the property. Finally, the location of the property is considered, as properties in sought after areas tend to be more valuable than properties in less desirable areas. These factors are all taken into account when determining the assessed value of a property, which is then used to calculate the amount of taxes due. The assessed value is typically lower than the market value, and it is used to calculate the amount of taxes due. Property taxes are paid on a yearly basis, and they are based on the assessed value of a property.

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