FAQs Overview | Palm Springs 55+ Communities
What is the Property Tax Rate in Palm Springs, CA?
The property tax rate is determined by the State and is 1.25% of the initial purchase price.
The initial purchase price, for taxing purposes, can go up 2% per year as long as you own the home. Example, initial purcahse price $500,000. Year 2 for tax purposes this will be $500,000 times 2% or $510,000. This is the law under Proposition 13 for the whole state of California.
There are a few 55+ communities in the Desert that have Mello Roos, an additional tax for infrastructure type improvements.
What is the First Step in the Home Buying Process?
The First Step in the Home Buying Process is getting Pre-Approved with a lender for a loan (unless your purchase is all cash). I can refer you to several qualified Mortgage Specialist. You can also purchase your 55 Plus Home with a Reverse Mortgage - Click Here for More Information.
What is the MLS?
MLS Stands for Multiple Listing Service. It is where you can find all Active Inventory of Real Estate for Sale. Click Here for the Best MLS
Who Pays the Brokers’ Commissions?
Generally, the Seller pays the commissions which represents the Listing Agent and Buyers Agent.
How Can I determine the Value of My Home?
We have a great tool called the CMA (Comparative Market Analysis) from Cloud CMA. It can help you determine the value of your home in 2 easy steps! Find it by clicking HERE.
I am interested in Buying or Selling Real Estate in Palm Springs - Who do I contact?
If you are interested in Buying or Selling Real Estate in Palm Springs or nearby, contact Todd Riley - Equity Union Real Estate - Your Palm Springs Area Specialist. 760.507.1355 Todd@ToddRiley.com
Todd Riley – Palm Springs 55+ Area Specialist