Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

SUPPLEMENTAL PROPERTY TAXES 47. What are “supplemental” property taxes?

April 26, 2017property taxes supplemental

0

Posted

SUPPLEMENTAL PROPERTY TAXES 47. What are “supplemental” property taxes?

1 Answer

0

Posted

“Supplemental” taxes are additional secured taxes that are due when property undergoes a change in ownership or new construction. The additional tax is owed because the County Assessor is required to immediately adjust the January 1 value to reflect the new value of the property. Adjusted for the number of months left in the fiscal year, the supplemental tax bill represents the tax due on the difference between the old and new values. For more information see supplemental property taxes.