Property Value and Property Tax in West Hollywood, Los Angeles
It can be tough to shop for a house when you have to factor so many variables, such as principal cost, interest rates and unforeseen repairs. But there are many benefits to consider as well, such as property value and property tax rates, even if you’re just looking to invest to later turn-over.
For example, West Hollywood has seen at least an 8.3% increase in property value, making it the fourth highest rate of increase in the county of Los Angeles, California. A greater incentive to invest in West Hollywood property may be the very low property tax rate residents enjoy, which at 0.9%, makes it one of the lowest in California.
Whether you want to make Hollywood your new home or just a lucrative investment opportunity, a good way to weigh that decision could be by attending a few local events, especially if they are free! This can be a great way to get a feel for the community’s vibe, if you are actually interested in making this neighborhood your home. Or it could be a relaxed opportunity to evaluate comparables.
For example, a cute way to enjoy the West Hollywood neighborhood could be by attending their Dog Festival called Pawsapalooza, where local residents and community members can peruse around pet products and services, while enjoying live music, delicious food and drink. This festive family-friendly event is the celebration of the human-animal bond at West Hollywood Park.
If you need any assistance with purchasing or selling your next home I would love to help you! Feel free to contact me via my contact form :)
- Monica Singer