Property Taxes

  1. If you currently have a property in the LA County, you may check your property tax rate on this website using the assessor’s parcel number. You may also use this link to check the tax rate of the current property owner.
  2. Property tax – Tax levied by the government on owners of real estate. Amount of tax is based on the value of land as well as all improvements.
  3. Property taxes are mailed out once on November 1. The tax is broken into two installments and the first is due by December 10, and the second by April 10.
  4. Supplementary tax – This is the additional tax you will have to pay based on the difference between the old accessed value of the property and the newly accessed value. If the new value of the property is less, then you will receive a refund. When buying property, the value will usually be different and this difference is where the supplementary tax comes from. When you receive mail for your property tax, you will also receive a supplementary tax form.
  5. Excluded reassessments – Transfers between family members may be excluded from reassessments. People over 55, or disabled may also qualify to have the assessed value of their old property transferred to their new property.
  6. There are three groups responsible for your tax bill
    • Assessor – Appraise the value of the property governed by state laws. They approve and apply all exemptions.
    • Auditor Controller – Adds direct assessments to tax rates : 1% levy and others such as debt service, voter and bonded tax rates to the value.
    • Treasurer and Tax Collector – Receives information and mails tax form to address listed. This group handles collections of secured and unsecured taxes.

 General overview of taxes you will pay

  1. Proposition 13 – Property tax used to be assessed on the market value, which went up every year, however, now property taxes are based on value of the property when purchased. Each year, taxes assessed could have a small increase based on inflation or 2%, whichever is smaller.
  2. The amount of tax is one percent of taxable value which is the assessed value of the property of the previous year adjusted for inflation. This base value changes when property is sold or new construction is done.
  3. California property tax law allows for another 1% to pay for voter approved bonds, special assessments, or direct levies. This number varies in each area and is small enough that it usually does not hit the full 1%. Thus property tax is a minimum of 1% and can go up to 2%.
  4. Property taxes collected go to local government and remains in the county collected. 

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s