- MLS® #: OC23097356
- 106 Tangerine
- Irvine, CA 92618
- 2 Bed, 2 Bath, 964 SqFt, 0.06 Acres
Irvine Homes with Low Property Tax Rate
Posted by Sam Smith on Monday, July 25th, 2022 at 3:32pm.
When looking to purchase a home there are a lot of factors that go into finding a home. Once you have located a home then you have to crunch all of the numbers to see what your monthly payment would be If you are planning to get a loan. Often times buyers only look at monthly payment would be for the principal amount and interest and forget to includes taxes and insurance which often times can add a lot of cost to monthly amount. This is commonly known as PITI, principal + interest + taxes + insurance. In Irvine, the large majority of properties may have some kind of monthly homeowners association dues that also need to be calculated into the monthly payment. Don't forget to also check if the property has a Mello Roos tax on top of all of that which is very commonly found in newer construction homes.
Property taxes in California is currently 1% of the purchase price no matter where you buy a home in California. The part that gets a little tricky is the city tax that is added on to this amount as well as the Mello Roos tax which will bump up this amount even higher. If you can stay away from homes that have a Mello Roos bond then you will have much lower payments. Typically the Mello Roos payment is paid either once or twice a year so make sure you average that over 12 months to figure out the correct amount. The city of Irvine has some nice older communities that doesn't have any Mello Roos tax but be cautious when looking at brand new construction homes which are very popular right now in Irvine. We love showing homes in established neighborhoods like Turtle Rock and Westpark as they seem to offer a lot of value when considering all of the costs. We have gathered some listings below here that are being advertised by different real estate brokers as having low interest rates. We highly recommend you satisfy and verify for yourself that actual tax rate of any given property. For questions about various tax rates please contact any of our local real estate agents here in Irvine at 949-988-0605.