PROPERTY TAXES

Property Taxes are commonly referred to as Secured Property Taxes where an asset (House/Property) has sufficient value to guarantee payment of taxes levied. Secured property taxes are taxes which, if unpaid, can be satisfied by sale of realty against which they are levied (Per the OC Tax Assessor). These taxes are due in equal installments on November 1 and February 1 and are delinquent December 10 and April 10. Depending on how your mortgage was originally set up your mortgage payment can include those property taxes monthly in your payment. If they are not you must pay those taxes directly, other wise the bank will pay the on your behalf.

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Supplemental taxes result from assessments adjusting taxes when new taxable values are determined following change of ownership of locally assessed property or completion of new construction on locally-assessed real property. The additional tax is owed because the County Assessor is required to immediately adjust the assessed value to reflect the new value of the property. Adjusted for the number of months left in the fiscal year, the Supplemental Tax Bill represents the tax due on the difference between the old and the new values.

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Supplemental Tax Bills are separate from the regular property tax bill. It is the owner's responsibility to ensure payment of Supplemental Taxes as they cannot be billed to a lending agency.

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To view your property tax bill online you can go to the following websites:

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For LA County:

http://lacountypropertytax.com/

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For Orange County:

http://www.ttc.ocgov.com/proptax

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“Any fool can know. The point is to understand.”

― Albert Einstein