Wednesday, May 16, 2012
Many of you have expressed concerns regarding your purchases that occurred after January 1, 2012 with a sales price significantly lower than the assessed value of the property. Per law, taxpayers in this situation will receive the 2012-13 annual tax bills this October reflecting the prior owner’s assessed value as of January 1, 2012.
Sales of properties after January 1, 2012, will be assessed beginning in July 2012 and the new value will appear on the 2013-14 annual tax bills to be issued in October 2013.
Accordingly, new homeowners since January 1, 2012 who filed claims for the Homeowners' Exemption will not see their exemption credited on the 2012-13 annual tax bill. The Homeowners' Exemption claimed by a purchaser after January 1, 2012 will first appear on the 2013-14 bill along with the new value established at the time of their purchase.
Per law, the 2012-13 secured property tax bills will reflect the fair market value of your property as of January 1, 2012, not its current value. It is important that you pay the amount on the tax bills by the due date to avoid penalties.
Once reassessed, you will receive a supplemental assessment. The supplemental assessment notice establishes the assessed value of your property as of the day it is purchased. If our office determines that your sales price reflects the fair market value as of the purchase date it will be enrolled as the assessed value.
If the assessed value is lower than that on the 2011-12 annual bill, and results in a supplemental refund, the refund will be issued upon full payment of the 2011-12 annual bill. If the assessed value is higher than on the 2011-12 tax bill and a supplemental bill results, new owners who have filed a timely claim for homeowners' exemption will receive the benefit of the exemption for that supplemental billing assessed to them.
View complete information on the supplemental assessment process. If you have further questions, you may call our office at (916) 875-0700 (select telephone options 2 then 1), send an e-mail to us at assessor@saccounty.net, or visit our office at 3701 Power Inn Rd, third floor.
