Today we are going to tell you about California Real Estate Laws you need to know. Izabella Lipetski is here with her knowledge and years of experience in real estate market of California. Let us talk about Real Estate Laws in California.
The property tax is the oldest major revenue source for state and local governments. At the start of the 20th century, property taxes represented 8 percent of state and local tax income. While this proportion has decreased over time as states have implemented income and sales taxes, the property tax remains an important mechanism for funding education and other local facilities. In addition to state income taxes, a person who owns real estate is subject to state real estate taxes.