NEWS: California home prices soar but property taxes will rise only slightly in 2016
California home prices soared last year, but thanks to Proposition 13’s constitutional limitation on tax increases, property taxes will only rise slightly. Home prices have reached an average of $450,000 statewide and top $1 million in some communities. Since 2011, home prices have risen 45 percent, or about 10 percent a year, reports the Sacramento Bee.
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