Let's say you bought this 6,500 acre of land for a cool $28 million. I have some questions:
1) You bought the land, but are you required to still pay property taxes on it, even if there are absolutely no buildings on it at all and not a single soul roams the soil? If so, how much do you reckon that would be (if it were still just plain land)? 2) Now let's say you start building - schools, stores, hospitals, fire and police departments, all that stuff. Would the property tax go up? If so, what sort of metric is the increase based on?
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source https://www.reddit.com/r/RealEstate/comments/frjj91/california_do_property_taxes_go_up/
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