How were changes in property value due to sale of property or new construction taxed in the past?
Before July 1983, the Assessor reassessed property just once each year on January 1 for taxes due the following fiscal year (July 1 thru June 30). Any change in property value resulting from a change in ownership or the completion of new construction that took place after January 1 was not reevaluated and taxed until the following year.
Related Questions
- When I purchase property or complete construction at some point during the fiscal year, will I be taxed on the supplemental value for the entire fiscal year?
- When I purchase property or complete construction during the fiscal year, will I be taxed on the supplemental value for the entire fiscal year?
- How were changes in property value due to sale of property or new construction taxed in the past?
