Important California Property Tax Dates
Posted Apr 24, 2008 @ 2:05 pm, Viewed by 94 Visitors, Read 96 Times.Annalisa Alvarado of North American Title recently provided me with the following tax information:
July 1 -- The Current fiscal tax year begins
November 1 -- First tax installment is due
December 1 -- Last day to file for 80% Veterans or Homeowners exemption.
December 10 - First tax installment becomes delinquent at 5:00 pm. 10% penalty added to taxes due. If December 10 falls on a weekend.
January 1 -- Calendar year begins
February 1 -- Second tax installment due
March 1 -- Assessment Date Taxes become a lien at 12:01 a.m. Title must show taxes as a lien for the coming fiscal tax year.
April 10 -- Second tax installment becomes delinquent at 5 p.m. 10% penalty plus $10 administrative charge is attached. If April 10 falls on a weekend or holiday, taxes become delinquent at 5 p.m. the next business day.
April 15 -- Last day to file 100% Veterans or Homeowners Exemption. To be eligible you must own and occupy the property on March 1
June 30 -- Property tax may become defaulted If you fail to pay either or both installments by 5 p.m., property tax becomes defaulted and additional costs and penalties accrue. If June 30 falls on a weekend or holiday, taxes must be paid by 5 p.m. the next business day
After five years of delinquency, property can be sold at public auction. Taxes are collected by each county but are governed by California State Law.
These dates are important to keep in mind to save penalties when owning a home. New homeowners also have to keep in mind that properties are reassessed based on the recent sale and that a supplamental tax bill is prepared by the county. This bill is mailed separately and if your mortgage holder is collecting your taxes is an obligation that is the owners responsibility to pay.
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Carolyn Gjerde-Tu is a Broker Associate with Lyon Real Estate in Davis, CA. Her blog ranges from general real estate information and current market trends to community events an overview of life in and around Davis and Woodland. Read More
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