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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?

April 26, 2017COMPLETE Construction point Property purchase supplemental TAXED value

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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?

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No. You are only taxed on the supplemental value for the portion of the current fiscal year remaining after you purchased the property or completed new construction.

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NO. You are only taxes on the supplemental value for the portion of the current fiscal year remaining after you purchased the property or completed new construction, however, if the event was prior to January 1, you will receive an additional supplemental tax bill for the next fiscal year.