Q. What are Supplemental Taxes?
A. Supplemental taxes are assessed only in the fiscal year a property is purchased. They are based on the increase in assessed value from the seller’s assessment and cover the period from the date you take ownership or completion of new construction until the end of the tax year on June 30.
Q. When and how will I be billed?
A. “When” will depend on the individual county and the workload of the County Assessor, the County Controller/Auditor and the County Tax Collector. You could be billed in a few weeks, or it could take months. The assessor will appraise your property and advise you of the new supplemental assessment amount.
Q. Can I pay my Supplemental Tax Bill in installments?
A. All supplemental taxes are payable in two equal installments. The taxes are due on the date the bill is mailed and are delinquent on specified dates depending on the month the bill is mailed.
Q. How will the amount of my bill be determined?
A. The supplemental taxes will be based on the increase in the assessment value and prorated based on the number of months remaining until the end of the tax year, June 30. Unlike your ordinary annual taxes, the supplemental tax is a one-time tax.
Q. Can you give me an idea of how the proration factor works?
A. The supplemental tax becomes effective on the first day of the month following the month in which the change of ownership or completion of new construction actually occurred.