[JavaBrewer]

For comparo - my home has a market value of $950K (and dropping). The taxable value = purchase price of $490K. SoCal is just under 1.1% state property tax and we also pay mello roos (already explained above) that for the next 15 yrs adds another 0.6%. So my annual proptery tax bill is $8300. State income tax = yes. Sales tax 7% = yes.