Too bad there was no link to see the 1916 English manor.

Yikes. Property taxes will be close to $200K a year.

Curious what the figure would be under a Prop 13 umbrella.

If you click on the underlined words in the green box "historic English manor," it will link to this site, which has photos and a history of the home: Web Link

Thanks,
Linda

Thanks. So tired of seeing historic houses painted all white all the time.

Prop 13 fixes the property tax at the last sales price for the property. That is a legal amount relative to the mortgage and other costs associated with the property. It goes up 2% a year. People appear confused concerning Prop 13.

Houses in South PA are turning over now with new two story homes replacing the existing one story homes. The sales prices on the new homes is $2M+ and up ward. The city is doing very well on the turn over of homes.

The problem is in the commercial properties and rental residential properties - condos and apartments which increase the lease rates but the property itself does not turn over. All of those empty buildings on West Bayshore are not generating any income but they were bought ages ago so the property tax is relatively low.

"Does Palo Alto have a City transfer tax?
In Santa Clara County, it is customary for sellers to pay for the county tax ($1.10 per $1,000). Typically buyers and sellers split city transfer tax 50/50. Mountain View, Palo Alto, and San Jose all charge an additional city transfer tax of $3.30 per $1,000.Apr 17, 2021"

From 2021 and I thought I'd read that the city wanted to raise its transfer tax even more. Obviously it takes so much more effort to executive a $2M transfer as a $5M or $10M transfer.