I recently purchased a condo (escrow closed at the end of April). I got the property tax bill, but it's addressed to the previous owner with the old property value. Am I suppose to get another tax bill with the correct amount? Or am I suppose to mail in the proper amount myself? If I have to figure it out myself, how? I've tried to call, but wait time was long and forwarded me to voice mail. I also checked the scctax.org, but it doesn't have the latest property value/tax info. Help? Thanks!

Leo

 

yup just wait for it,mine took 9 month bfr i got it ...also have u been to the county recorder office to submit ur note?

 

Yes eventually you will get a bill for the difference based on your purchase price. then next year you will get your regular ones.

warning, it will suck next year because you have pay this year and next year.

I was pretty depressed when I saw what the previous owner was paying compared to me. stupid property taxes.

 

I'd get a hold of someone. They are due next month ya know.?

 

I don't think it matters since they keep track of property tax by the house itself, not who pays it.

 

don't mess around. Find out the facts and pay what's due. Property tax is tax deductible.

San mateo co rocks. I bought my house from my dad and I inherited his original taxes...ie the taxes he's been paying for the past 20 years. it's a special tax clause to protect children who get property from their parents.

sweet.

 

9 months!? It's due Nov 1 and penalty after Dec 10. What note are you talking about?

I called and got a message saying they will START mailing out the bill after 2 weeks into October. And to call in the first week of November if still no bill. I am guessing my new bill is coming, or so I hope....

Thanks guys!

 

I've been trying. When I called, they said there is a long wait. Then after few minutes, it went to the machine.... I'll try again.

 

This is a very common thing to happen...You can either wait (NOT RECOMMENDED) for the updated bill or call and get the proper amount and pay it.

A good way to figure your property taxes is to multiply 1.25% by the purchase price divide by two and that is more than your semi-annually payment.

PERSONALLY I'D CALL...the last thing you need is to have a penalty or a non-payment for you property taxes...within in a year of not paying they will attach a lien to your property.

-Noah

 

Noah,
thanks man, but I've been calling and keep on getting the machine...

Leo

 

DO NOT WAIT FOR YOUR TAX BILL!!!!!


You HAVE to pay the taxes for the current bill, even though its addressed to the previous owner, its called a "Secured tax bill", which is based on the purchase price that the previous owner paid for the property......but submit a change of ownership when you pay them.....then in a couple weeks or so, you will get a duplicate tax bill that is corrected with YOUR name on it......Then in a few months you will get your SUPPLEMENTAL Tax bill, which is the Difference between what the Previous taxes (based on what the former owner paid) were, and what the new taxes are (based on what you paid), I know because I just got my Duplicate corrected tax bill in the mail yesterday, I closed escrow in Aug. You are still responsible for the taxes even if your name is not on the paperwork!!!! It even says that on the tax bill.

Keep in mind that your current tax bill (the one you just got) will be cheaper than the one you will get that is based on YOUR purchase price.


-Ted

 

that's awesome... but it's not just in san mateo co. there are so many loopholes when it comes to taxes and real estate. how you title the property etc. makes so much difference for you and your kids.

 

hope this stays true for another 30 years or so. LOL! I am only 24 and LONG way from getting a wife, let alone having kids.

 

I'm only 30 and I bought the house last year. You're never too old to make good financial decisions, although it's harder when you're younger.

 

you know there is no common law in CA. hint hint.... don't change title on your house.