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21 lis 2024 · Under current California law, after there is a change of ownership to a home, the property is reassessed for its value. When the assessed value changes, the County must recalculate the property taxes, and when those change, they send the new owner a supplemental tax bill.
7 cze 2024 · While regular property taxes are predictable and recur annually, supplemental tax bills are issued in specific circumstances, such as after purchasing a new home or completing significant renovations. Understanding these bills is crucial because they can substantially impact your financial planning and budgeting.
10 maj 2024 · 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.
If you don't plan on buying new property or undertaking new construction, this new tax will not affect you at all. But, if you do wish to do either of the two, 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.
Changes in ownership or completed new construction are referred to as 'supplemental events' and result in supplemental tax bills that are in addition to the annual property tax bill.
18 sty 2014 · If you purchase a home in California, you may 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.
24 sty 2024 · This article will explore the basics of California property taxes, how those are prorated in a sale, and the post-closing “Supplemental Property Tax” bills new owners often receive.
