Real Property

This is a very common misconception. The sale price is presumed to be market value only if it was an “arms-length”, open market transaction, and you notified the Assessor’s office of the sale price by timely filing a “Preliminary Change of Ownership Report” or a “Change of Ownership Statement”. If these two conditions are not met and the market evidence supports a different indication of fair market value, your base year value will be set at market value, based on our appraisal. If both of these conditions are met, we would only set your base year value at something other than the sale price if a preponderance of evidence indicates the property would have sold for at least 5% more or 5% less than the actual sale price in an open market transaction.

The Assessor has no legal obligation or business need to record every permit issued on every property in the county, so the fact that our records don’t include a permit number for a specific improvement does not mean a permit was never issued. We will be glad to provide any permit information we have, but we can’t guarantee it will include the one you are looking for.

Only the new addition (bedroom) will be assessed, and will then be added to the current value on the roll. The same will apply for a pool, second garage, or other major improvements. The Assessor will not re-appraise your existing home, as Prop-13 protects that value.

The law requires the Assessor to appraise new construction at fair market value. Fair market value is the price that the property would bring if it were exposed for sale on the open market. We determine fair market value for single family residences by analyzing sales of homes similar to the one being appraised.

State law requires the Assessor to reappraise property upon a change of ownership or new construction. The supplemental assessment reflects the difference between the new assessed value and the old or prior assessed value. If the property is reassessed at a higher value than the old assessed value, a supplemental bill will be issued by the Tax Collector. If the property is reassessed at a lower value than the old assessed value, a refund will be issued. Changes in ownership or new construction occurring from July 1 to Dec 31 will generate one bill covering a single fiscal year. The taxes are based on the number of months left in the fiscal year from the date of ownership change or the new construction completion date. If the change of ownership or new construction occurs between January 1 and June 30, two supplemental tax bills would be issued to cover changes for two fiscal years. The first bill would be from the date of the transaction for the remainder of the fiscal year; the second bill would be for the next fiscal year. Supplemental tax bills are mailed directly to the property owner and are the owner’s responsibility. In general, they are not paid out of your impound account. Please check with your lender.

The Assessor’s Office does not send out tax bills. The bill will come from the Tax Collector for one of two reasons. Either we failed to update our records after a deed transferring real property was recorded, or the property was transferred by means other than a recorded deed and no notification was sent to the Assessor’s office. Personal property (including boats, aircraft, manufactured homes, and business property) is typically not transferred by a deed, so it is imperative that you notify the Assessor as soon as possible after selling it. The same is true for real property transactions in which a deed is not recorded until the buyer has paid the seller in full and/or satisfied any other conditions of the sale.