It’s that time of year…

It’s Tax Time!

taxThis is a friendly reminder that the FIRST SECURED PROPERTY TAX INSTALLMENT is now due and will become delinquent after December 10. Embedded please find a helpful Property Tax Schedule/Calendar to download for your future reference.

At Western Resources Title, service is our number one priority. We make sure every client is taken care of quickly and efficiently every day.

Click Here to download calendar.

What are Supplemental Taxes?

Many questions have started to recirculate about Supplemental Taxes: those quirky, specially assessed property taxes that often catch new homeowners by surprise. While Supplemental Taxes are not prorated during the course of an escrow, they are brought to the attention of new homeowners through standard transaction disclosures. Even still, it is always good practice for selling agents to provide their clients with as much information on the topic as possible.

Click Here for FAQ’s Regarding Supplemental Taxes

Understanding Supplemental Property Taxes

Supplemental property taxes have been with us since 1983, but you and your neighbors still may not know what they are, what they do and how they affect you and your property. To help you better understand this confusing subject, here are the answers to some of the most frequently asked questions about supplemental real property taxes.

When did this tax take effect?

The Supplemental Real Property Tax Law was signed by the Governor in July of 1983 and is part of an ambitious drive to aid California’s schools. This property tax revision is expected to produce over $300 million per year in revenue for schools.

How will Supplemental Taxes affect me?

If you buy a new property or undertake new construction you will be required to pay a supplemental property tax which will become a lien against your property as of the date of ownership change or the date of completion of new construction.

When and how will I be billed?

“When” is not easy to predict. You could be billed in as few as three weeks, or it could takeover six months. When will depend on the individual county.  The assessor will appraise your property and advise you of the new supplemental assessment amount. At that time you will have the opportunity to discuss your evaluation, apply for a Homeowner’s Exemption and be informed of your right to file an Assessment Appeal. The county will then calculate the amount of the supplemental tax bill. The supplemental tax bill will identify, among other things, the amount of the supplemental tax and the date on which the taxes will become delinquent.

How will the amount of my bill be determined?

There is a formula used to determine your tax bill. The total supplemental assessment will be prorated based on the number of months remaining until the end of the tax year, June 30th.

Will my taxes be prorated in escrow?

No. Unlike your ordinary annual taxes, the supplemental tax is a one time tax which dates from the date you take ownership of your property or complete the construction until the end of the tax year June 30th.

To download handout, click here.

Property Taxes are Due December 10th

IMPORTANT REMINDER… and great reason to call your past clients to remind them that their property taxes are due!

 Click below to pay online:

Los Angeles County  –  Orange County  –  Riverside County

San Bernardino County  –  San Diego County

Property Tax Schedule

The following schedule is intended to serve as a general guide to property-owners.

July 1 Beginning of the fiscal year.
August  Treasurer-Tax Collector’s Office mails delinquent prior year secured notices.
August 31 UNSECURED TAX DELINQUENCY DEADLINE as of 5:00 p.m. A 10% penalty plus a $75.00 collection fee is added as of 5:00 p.m.
Sept 25 – Oct 5 The Treasurer-Tax Collector’s Office mails out original SECURED PROPERTY TAX bills.

In addition, SUPPLEMENTAL TAX bills are mailed throughout the year. 

October Unsecured Tax liens filed for unpaid unsecured accounts.
November 1 First SECURED PROPERTY TAX installment is due; delinquent UNSECURED accounts are charged additional penalties of 1.5% per month until paid.
December 10 FIRST INSTALLMENT payment deadline. A 10% penalty is added after the deadline.
January Treasurer-Tax Collector’s Office mails delinquent notice for unpaid FIRST INSTALLMENT and SUPPLEMENTAL SECURED INSTALLMENTS.
February 1 Second SECURED PROPERTY TAX installment due.
Feb – March Treasurer-Tax Collector mails delinquent prior year secured installment.
March – July UNSECURED PROPERTY TAX statements mailed.
April 10 Second SECURED PROPERTY TAX installment payment deadline. A 10% penalty plus $23.00 cost is added after the deadline.
May Treasurer-Tax Collector mails delinquent notices for any unpaid first and second installment taxes and SUPPLEMENTAL SECURED INSTALLMENTS
June 30 End of fiscal year.
July 1 Delinquent SECURED and SECURED SUPPLEMENTAL accounts are transferred to delinquent tax roll and additional penalties added at 1.5% per month on any unpaid tax amounts, plus $15.00 redemption fee.

Please note that the list above includes only the more significant dates and may not include all items or activities in the regular tax cycle.  If a delinquent date falls on a weekend or holiday, the delinquent date is the next business day