How are property taxes calculated in CA when you purchase a property?

How are property taxes calculated in CA when you purchase a property? In CA, property taxes are caculated at 1.25% of the purchase prices with some county variations. So if you purchaed a home for 1 million dollars, your property tax would be approximately 12,500 a year #deborahandgulshen#dngisthekey#RPMCommercialRealEstate#ResidentialRealEstate#ResidentialRealEstateMarketUpdate#HomeBuyers#HomeSellers#realestate#realestateinvesting#invest#financialfreedoom#realestatetips#CommercialRealEstate#CommercialRealEstateSales#CommercialRealEstateLeasing#CommercialRealEstateMarketUpdate#PropertyManagement#IndustrialSales#IndustrialLeasing#RetailSales#OfficeSales#OfficeLeasing#MultiFamily#MultiFamilySales#1031Exchange#RealEstateInvestment#realestateknowledge#moneymanagment#propertytaxes