How Much Do You Pay Uncle Sam in Property Taxes?

Today I’ll give you an idea of what you should expect to pay in property taxes and how you’ll pay that amount.  

Looking to buy a Bay Area Home? Search all Bay Area homes for sale. Selling Your Bay Area Home? Use our home evaluation tool.

How much money do you need to pay Uncle Sam when it comes to your property taxes? Let’s find out. 

Let’s say your home is worth $200,000 and your tax rate is 1.5%. This means on an annual basis, you’d pay $3,000 (or $250 per month). There can be additional taxes, fees, and assessments added to this number, so double-check with your tax assessor to make sure you’re paying the right amount. 

Now that you have an idea of what you’ll have to pay, you need to figure out how you’ll pay it. This part is actually pretty simple. If you’re paying a mortgage, you’ll most likely have an impound account set up with your lender. Every single month, your lender (or whoever holds your note) will collect money out of that account for insurance purposes or property tax purposes. They’ll then put t