here's my take
Aides in people buying or owning more property/homes
with these crazy low & affordable mortgage rates helps
why pay rent ?
pay someone else's mortgage for them
when you can own for less or the same $$$
but;
then you have to pay property taxes as a property owner
or Mello-Roos bonds, water & or school bonds
on top of it
to pay for pet projects, for local &/or municipal spending,
in some cases
there's always some way they get in your pocket
those taxes greases the wheels of local govt.
but;
that Co. property tax base,
could aide or stimulates the county where you live
for local projects & funding local govt.
your property taxes,
will be based on the org. purchase price
or on the reassessed amount/value on the new property/home loan
in some cases (not 100% sure how that plays into it)
here it's only 1%, of org. purchase price
we have no Mello-Roos, here where I'm at
Thank Goodness,
I was paying that extra $800 a year in Rancho Murieta,
in Mello-Roos bonds for schools, water & water treatment bonds
on top of my 1% County property taxes
it was an unincorporated Rural area, gated Golf community
about 20 miles outside of eastern Sacramento Co.
enjoy the new lower rates & new home