Understanding you Property Tax Bill (1)

1
Understanding you Property Tax Bill

• by
• Bushore church real estate

2
Secured Assessments

• The secured property tax bill typically includes
  the i) General Tax levy, the base property tax
  rate, usually 1 of the assessed value of the
  property ii) Voter-approved debt, additional
  taxes to repay bonds approved by voters for local
  projects such as schools, infrastructure, and
  public facilities and iii) Direct Assessments,
  charges for specific services or improvements,
  such as lighting, landscaping, or flood control,
  which benefit the property

3
Supplemental Assessments

• An additional tax that may be levied when a
  property changes ownership or undergoes new
  construction. This tax is designed to reflect the
  difference between the previous assessed value
  and the new assessed value, either due to the
  change in ownership or improvements made to the
  property.
• If reassessed due to a change in ownership or
  completion of new construction, you will then be
  notified by mail of the new value and the
  supplemental taxes due. If the new value is less
  than the previous value, it may result in a
  refund.

4

• For example, if a property was previously
  assessed at 300,000 and the new assessment is
  400,000, the supplemental tax would be based on
  the 100,000 increase in value. The supplemental
  tax is prorated based on the number of months
  remaining in the fiscal year (July 1 to June 30).
  For example, if the change in ownership occurs
  halfway through the fiscal year, the supplemental
  tax would be calculated for the remaining six
  months.

5
Escape Assessments

• This refers to a situation where a propertys
  taxable value has been under-assessed or omitted
  from the tax roll, resulting in a lower property
  tax bill than what should have been charged. When
  the county assessor discovers this discrepancy,
  an escape assessment is issued to correct the
  propertys assessed value and recover the taxes
  that were not originally billed. Escape
  assessments can be issued for up to four prior
  tax years plus the current year. If fraud is
  involved, the period may extend further.

6

• This can occur due to different circumstances
  including, but not limited to (i) clerical
  errors (ii) discovered omissions (iii)
  undisclosed changes such as failing to report a
  transfer of title resulting from the death of an
  owner or (iv) non-permitted new construction
• Property owners receive a Notice of Proposed
  Escape Assessment, detailing the reason for the
  adjustment and the new assessed value. After the
  notice, the county issues a supplemental tax bill
  for the additional taxes owed due to the
  increased assessment.

7
Note

• Property owners have the right to appeal the new
  assessed value if they believe it is incorrect.
  The appeal process typically involves submitting
  a formal request to the county assessors office.
  Certain exemptions (e.g., homeowners exemption)
  and relief programs may apply, potentially
  reducing the supplemental tax amount.