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

 

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, http://tax.ocgov.com (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.

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Source of information is the County of Orange CA Assessor office

  

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