California Mortgage Calculator — Prop 13, CalHFA & Mello-Roos
Calculate your California mortgage payment with Prop 13 tax limits (~0.77%), Mello-Roos assessments, and state income tax. Includes CalHFA down payment assistance for first-time buyers.
California Mortgage Calculator
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Enter Values
Annual Property Taxes
$5,775/yr
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Down Payment
20.0%
Loan Term
15 yr
California Specific
Prop 13 limits property tax to ~1% of assessed value with a 2%/yr cap. CA also has state income tax (1-13.3%).
The Formula
Standard monthly mortgage payment formula. California has relatively low property taxes (~0.77% effective rate) thanks to Proposition 13, but home prices are the highest in the nation. State income tax (1-13.3%) also affects overall affordability.
Variable Definitions
Proposition 13
California's landmark property tax law limits the tax rate to 1% of assessed value plus local bonds, and caps annual assessment increases at 2%. This keeps property taxes low for long-term homeowners.
California Housing Finance Agency
Offers down payment assistance and competitive mortgages for first-time homebuyers. Programs include CalHFA FHA, CalPLUS, and the MyHome assistance program with up to 3.5% of purchase price.
Mello-Roos Tax
Additional property tax assessment in some California communities to fund local infrastructure. Can add 0.5-2% to the effective tax rate. Not covered by Prop 13 protections.
How to Use This Calculator
- 1
Enter the California home price — use $750,000 as a starting point.
- 2
Enter your down payment. CalHFA offers up to 3.5% assistance for qualifying first-time buyers.
- 3
Select your loan term. 30-year fixed is standard in California.
- 4
Enter the property tax rate. The default 0.77% reflects Prop 13 limits — check if your area has Mello-Roos.
- 5
Review the results — California has both property tax and state income tax (up to 13.3%), unlike Texas or Florida.
Common Applications
- Estimate monthly mortgage payments on a California home including Proposition 13 property taxes and Mello-Roos special assessments.
- Compare how California high home prices and progressive state income tax affect your overall housing affordability.
- Plan your home buying budget by modeling the impact of CalHFA down payment assistance programs and different loan terms.
California has low property taxes (0.77%) due to Prop 13 but the highest home prices and state income tax.
Understanding the Concept
California's housing market is defined by the highest home prices in the continental US and a unique property tax system governed by Proposition 13. Passed in 1978, Prop 13 caps property tax at 1% of assessed value (plus local voter-approved bonds) and limits annual assessment increases to 2%. This means two identical homes in the same neighborhood can have dramatically different tax bills depending on when they were last sold. For new homebuyers, the effective property tax rate is typically around 0.77-1.1% of the purchase price. However, some communities add Mello-Roos special taxes for schools and infrastructure, which can increase the effective rate by 0.5-2%. California also has a progressive state income tax (1-13.3%). First-time homebuyers can access CalHFA programs offering down payment assistance and competitive rates. High housing costs mean many California buyers opt for larger down payments or look to smaller, more affordable markets in the Central Valley and Inland Empire.
Frequently Asked Questions
Sources & References
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