Wednesday, November 23, 2011

Property Tax Tips for New Owners at Orange County CA Real Estate

Property tax information 

The Orange County CA Assessor updated its published general information for new home owners at Orange County, California. 

  • By law, California real estate is valued each year as of January 1 (lien date) for property tax purposes. 
  • Property taxes are assessed to the owner of real estate on January 1 of each year.  
  • Property tax bills are mailed in September to the owner of property on January 1.  
  • New owners may receive a tax bill with the prior owner’s name (January 1 is the controlling date).  
  • New owners are responsible for property tax payments as soon as they acquire the property. 
  • Check for unpaid taxes on the Tax Collector’s website, (Pay/Review Your Property Taxes).  
  • Your name may not appear on the tax bill for up to 1 year.
  • Homeowners that occupy their home as their principal residence may qualify for an exemption that could reduce their taxable value by $7,000 and save them about $70 per year in property taxes.  
  • New owners will receive a Notice of Supplemental Assessment and a Supplemental Tax Bill (this process can take up to 9 months from when you acquired the property).
  • Information on tax-saving programs administered by the Assessor Department is posted on its web site.

Orange County CA


Source of information is the County of Orange CA Assessor office

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