Hi, to all out there.
I have a question about my property taxes. I own a modest home in California. I need some guidelines about prop 13 and or prop 8. How do I calculate the amount of tax especially when the property value is fluctuating?

Prop 13 sets property taxes at 1% of assesed value, plus there are usually local things added on making it an average of 1 1/4%.
If you can get the assesor to lover the assesed value which they should if they haven't already you pay less. The assesed value is usually what you paid for it or its actual value at the time of purchase. They can rais the value 1% per year (i think).

Did I stumble into the H&R Block forum? The Governator and Uncle Sam collect 'em.
You pay 'em.

The tax assessment is the amount you paid for the house, plus a certain percentage for each year you own your house. If that is more than the house is worth, you can apply for a reassessment based on the current value. Contact the county assessor for the forms. You need to do this for every year the house is worth less than the assessed value. Otherwise it goes back to the amount you paid plus the additional for each year.

The assessor tells you what the taxes are, and gives you a breakdown. The ad valorem taxes are deductible from your income taxes the year you pay them. The parcel taxes are added to the basis of the property when you sell the house.

Doesn't the Government have a booklet? I remember something about PTG, Property Tax Guide. Maybe that is why it is being asked about here... (Back to you, Jerry)