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What if I purchase a piece of property and then sell it again after a few months, what do I do regarding the property tax bill? 150 150 Auditor-Controller

What if I purchase a piece of property and then sell it again after a few months, what do I do regarding the property tax bill?

If you purchase and then sell property within a short period, the supplemental tax bill you receive should cover only those months during which you owned the property and the new owner should receive a separate supplemental tax bill. Because of the number of properties changing hands each year, there may be delays in placing…

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What do I do if the dates used to calculate my supplemental bill are incorrect? 150 150 Auditor-Controller

What do I do if the dates used to calculate my supplemental bill are incorrect?

If the period covered by the supplemental bill you received does not cover the period during which you actually owned the property, you may submit a Transfer Taxes to the Unsecured Roll Request. If approved, the supplemental will be prorated between you and the other owner or fully billed to the other owner as appropriate.

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Why did I receive two supplemental tax bills? 150 150 Auditor-Controller

Why did I receive two supplemental tax bills?

If the change in ownership occurs or new construction is completed after January 1st (lien date) but before May 31st, then there shall be two supplemental assessments. The first supplemental bill is for the fiscal year in which you purchased the property or completed new construction. The second supplemental bill is for the following fiscal…

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When I purchase property or complete construction at some point during the fiscal year, will I be taxed on the supplemental value for the entire fiscal year? 150 150 Auditor-Controller

When I purchase property or complete construction at some point during the fiscal year, will I be taxed on the supplemental value for the entire fiscal year?

No. You are only taxed on the supplemental value for the portion of the current fiscal year remaining after you purchased the property or completed new construction. However, if the event was after to January 1, and before May 31, you will receive an additional supplemental tax bill for the next fiscal year.

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What is a supplemental tax bill and how is it calculated? 150 150 Auditor-Controller

What is a supplemental tax bill and how is it calculated?

State law requires the Assessor’s Office to reappraise property value upon a change in ownership or completion of new construction. The Assessor’s Office must issue a supplemental assessment that reflects the difference between the new base year value and the previous base year value. The difference in values is multiplied by the tax rate applicable,…

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What period of time does a secured property tax bill cover? 150 150 Auditor-Controller

What period of time does a secured property tax bill cover?

A secured property tax bill covers a fiscal year beginning July 1 and ending on June 30 of the following calendar year.

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What does my annual tax bill tell me? 150 150 Auditor-Controller

What does my annual tax bill tell me?

The annual tax bill identifies the following: • The owner of record as of January 1. • The property location and description. • The assessed value of the property. • The amount and type of exemption, if applicable. • The amount of taxes due on the first and second installments, as well as the total…

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How is my annual property tax bill calculated? 150 150 Auditor-Controller

How is my annual property tax bill calculated?

Secured: Net assessed value * tax rate + direct assessment(s) The net assessed value is the value assessed by the Assessor’s Office for land, improvements, personal property, fixtures etc., minus any exemptions. Questions regarding the computation of property tax should be directed to the Auditor-Controller, Property Tax Services Division. Please call between the hours of…

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Do my property taxes change from year to year? 150 150 Auditor-Controller

Do my property taxes change from year to year?

Yes, Proposition 13 allows for an increase up to 2% of the properties assessed value each year. In addition, the tax rate in your area can change as new bonds are added or decrease as bonds are paid off. Direct assessments can also cause an increase or decrease as they are added or removed.

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What is ad valorem tax? 150 150 Auditor-Controller

What is ad valorem tax?

The ad valorem tax is the property tax that the County levies at a rate equal to one percent (1%) of the full cash value. In addition, the rate includes an amount equal to the amount needed to make payments for the interest and principal on general obligation bonds or other indebtedness approved by the…

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