|
Event |
Due
Date |
|
1st
Installment |
Due Nov.
1, late if not received by Dec. 10 |
|
2nd
Installment |
Due Feb.
1, late if not received by Apr. 10 |
|
Look-up Property Tax Bill |
Income Tax Forms & Publications |
*
Offers Online Bill Look-Up
To estimate property taxes on a
property in California, you can use
1.25% of purchase price as a
rule of thumb for the 1st
year's tax bill.
(more below)
When
you purchase a home, the county tax
assessor reassesses the property and
sets a new property tax amount based
on your purchase price. Your
property taxes will be approximately
1% of your purchase price, plus any
voter approved bonded indebtedness
of the community (hence the 1.25%
rule of thumb). A new community may
have a "Mello-Roos" assessment. For
example, every home located within
the Mt. Diablo School District has a
$67 per year Mellos-Roos assessment
added to their tax bill. Another
common item you may find on the tax
bill is for "pest abatement", or a
bond for a sewer district.
Your future increases
limited by Proposition 13 to 2%
annually
In future years, the tax assessor is
allowed to increase the accessed
value by 2% appreciation per year.
Homeowner's Exemption
This is a deduction of $7,000 from
the "accessed value" and applies
only to owner-occupied properties.
Once you've purchased a home you
will received a card to fill out to
apply for the exemption. The card
must be completed and returned
between March 1st and April 15th.
Applications submitted after April
15th, but before the end of the year
will qualify for only 80% of the
exemption.
Supplemental Property Tax
Bill
The Supplemental Property Tax Bill
is for the difference between the
tax based on the seller's assessed
value and the tax based on your new
assessed value.
|
IRS Website
CA Franchise Tax Board Website
Other
|