Pl
Mills Act
E
Tax Assessment Worksheet
CALIFORNIN
Annual Property Income
An estimate of monthly rental income is required, even if the property is owner occupied. For single-family residences, Monthly Rental Income realtor may be able to assist you in determining the potential 5,000 rental income from your property.
Annual Rental Income Multiple monthly rental income by 12. #60.000.ºº Annual Operating Expenses
Insurance $ 1500.00
Utilities Electricity, Water, Gas. aw 1990 4000 $ 4620.00 Maintenance General Repairs, Cleaning, Painting, Landscaping. 11, 200. co Total Expenses Add total expenses. Total expenses typically equal 117, 370.00 approximately 25% of annual rental income.
Annual Net Income
Net Total Annual rental income minus total expenses. 1*42,630.00 Capitalization Rate
Interest Rate Component Fixed interest rate established by the Board of Equalization for 6.25% most recent year. [4.0%] 6.25%
Historic Property Tax Risk 4.0% for single-family residences Component 2.0% for all other properties 4.0%
Property Tax Component Fixed Component [1.0%]
1%
Amortization Component Based on life of improvements. [Typically 0.67%] 0.107% Capitalization Rate Add individual components above.
11.92%
Assessed Value
Historic Property Value Net total divided by capitalization rate.
N3576:0
Current Assessed Value
From current property tax bill.
4981695
Estimated Tax Reduction
Current Tax General levy tax portion only. Does not include sewer assessments, bond issues, or other voter indebtedness. 110, 90г Estimated Tax under Mills Act 1.0% of Historical Property Value. Provided as an estimate of 2576.0
potential tax savings.
7226.00