- By law, California real estate is valued each year as of January 1 (lien date) for property tax purposes.
- Property taxes are assessed to the owner of real estate on January 1 of each year.
- Property tax bills are mailed in September to the owner of property on January 1.
- New owners may receive a tax bill with the prior owner’s name (January 1 is the controlling date).
- New owners are responsible for property tax payments as soon as they acquire the property.
- Check for unpaid taxes on the Tax Collector’s website, http://tax.ocgov.com (Pay/Review Your Property Taxes).
- Your name may not appear on the tax bill for up to 1 year.
- Homeowners that occupy their home as their principal residence may qualify for an exemption that could reduce their taxable value by $7,000 and save them about $70 per year in property taxes.
- New owners will receive a Notice of Supplemental Assessment and a Supplemental Tax Bill (this process can take up to 9 months from when you acquired the property).
- Information on tax-saving programs administered by the Assessor Department is posted on its web site.
Robyn Seymour CLHMS SRES ABR CRS GRI
Prudential California Realty
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