The levy imposed on real estate in Alameda, California, is based on 1% of the property’s assessed value, plus any applicable voter-approved indebtedness. This assessed value is typically the purchase price, adjusted periodically to reflect market fluctuations. For instance, a property purchased for $1,000,000 would have a base annual tax of $10,000, before adding special assessments. Supplemental taxes, such as those for bonds or school districts, contribute to the total annual tax liability.
Stable and predictable revenue generated from these levies funds essential public services such as schools, parks, libraries, public safety, and infrastructure maintenance. The system’s foundation lies in Proposition 13, a 1978 California law that capped property tax increases. This measure limits annual assessment increases to a maximum of 2% unless a property is sold or undergoes significant new construction. This provides property owners with a degree of predictability regarding future tax obligations and contributes to the city’s financial stability.
