I purchased property for less than the assessed value on the annual tax bill?
Per law, the value on the annual property tax bill reflects the Assessor’s estimate of the fair market value of the property as of January 1, not the current assessed value. Owners that purchased property after January 1 will be receiving, or have received, a notice of supplemental assessment, which establishes the assessed value of the property as of the date it was purchased. If the new assessed value is less than the annual tax bill value, the supplemental assessment will result in a negative supplemental assessment. For additional information, please refer to our Supplemental Addenda web page at http://www.finance.saccounty.net/Tax/Supplemental.asp.
Related Questions
- I am about to purchase a property at a price significantly below the assessed value. Will my property taxes be based on the new purchase price or on the assessed value?
- I purchased property for less than the assessed value on the annual tax bill will my tax bill be reduced?
- I purchased property for less than the assessed value on the annual tax bill?
