New Homeowner Information
Annual Property Taxes
Annual tax bills are mailed once a year prior to November 1st with two installments. The first installment is delinquent if it is not paid or postmarked by December 10th. The second installment is delinquent if it is not paid or postmarked by April 10th. Property tax penalties are extremely high and are mandated by the State, so it is critical to pay your bills timely. If you do not receive your property tax bill by November 1st, please feel free to call our office at (760) 932-5480 in order to request your bill.
During your escrow process, most known property taxes are prorated by the title company between the buyer and the seller and are paid out to the Tax Collector. However, on some occasions, the property taxes may not have been paid on your behalf. It is important that you call (760) 932-5480 to determine whether there are outstanding tax bills on your property. State law makes it the homeowner’s responsibility to pay the taxes whether or not you receive a bill.
Supplemental Property Taxes
In addition to the annual property taxes, you may be responsible for paying one or more supplemental property tax bills. These bills are based on the difference between the prior assessed value and your new assessed value, which is generally your purchase price (market value in some situations). This amount is prorated based on the number of days left in the tax year from the date you purchased your home. If the property is reassessed at a lower value, you may receive a refund instead of a bill. If you purchased a property between January and May of a tax year (tax year runs July – June) you may receive more than one bill.
Supplemental taxes are the owner’s responsibility and are mailed directly to the homeowner, roughly 4-12 months after ownership is transferred; this timeframe can be longer in some cases. Generally, these bills are not paid by impound accounts and therefore, they are not sent to your lender. If you would like your lender to pay your supplemental bills on your behalf, you would need to contact them upon receipt.
If you own and occupy your home as your primary residence, you are eligible for a Homeowner’s Exemption that will reduce your annual tax bill by about $70. The Form and instructions are available at the following link: Homeowners’ Property Tax Exemption.
If you have any questions or need assistance, please contact us at (760) 932-5480.