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What is the property tax based on for houses bought in an auction?

If you buy a house from an auction (particularly in California), what will the property tax be based on? Will it be based on the auction purchase price or some assessed market value? Thanks.

Public Comments

1. The property tax will be set based on the valuation on your home at purchase or adjusted whenever you pull things like building permits, etc.

   This is to prevent over and under pricing as the market fluctuates.



2. The auction price has NOTHING to do with property taxes.