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What Are Supplemental Property Taxes?
Supplemental property taxes are additional taxes beyond the normal annual tax for any increase in the value of property as determined by the Assessor. This will include the purchase of property at a value higher than the former assessed value, the addition of a home to a vacant lot or any other major improvements such as a new pool or the addition of a room onto a house. The supplemental tax is billed separately and reflects the tax on the difference in the new value of the property versus the old value.
Q: Why did I receive more than one supplemental tax bill?
A: You may receive more than one supplemental tax bill, depending on when you purchased your property or completed new construction. Because the secured property taxes are based on the January 1 value and cover a fiscal year, your purchase/construction date may effect the calculation of the taxes for two fiscal years. For example, if you purchased property in February 2013, your purchase would effect the 2012-2013 fiscal year taxes (February 2013 through June 2013) and the 2013-2014 fiscal year taxes (July 2013 through June 2014). The latter fiscal year is effected because the Assessor would have already established the value on January 1, 2013, prior to the purchase/construction. Therefore, the taxes calculated for 2013-2014 would also have to be adjusted by a supplemental bill to reflect the increased value.
Q: When are my Supplemental Property Taxes Due?
A: The supplemental tax is due upon the mailing of the bill. The supplemental bill is payable in two installments, like the secured bill. The delinquent dates of the installments depend on when the bill is mailed. A supplemental tax bill mailed between July and October carries a 1st installment delinquent date of December 10 and a 2nd installment delinquent date of April 10. Supplemental bills mailed between November and June carry a delinquent date based on the month in which the bill was mailed-the 1st installment is delinquent the last day of the month after the bill was mailed. The 2nd installment is delinquent four (4) months later. For example, if a supplemental tax bill is mailed in February, the 1st installment delinquent date would be March 31 and the 2nd installment delinquent date would be July 31.
Q: My Property Taxes are Impounded in My Payment; Do I Still Have To Pay My Supplemental Property Taxes?
A: Supplemental tax bills are mailed directly to the homeowner. If you have arranged for your tax payments to be paid through an impound account with your mortgage company, contact your lender regarding payment. The lender will not receive a copy of a supplemental tax bill. The supplemental tax bill will not automatically be paid by funds in your impound account. If you receive a supplemental tax bill and have any questions about payment responsibility, contact your mortgage company.
Q: What Will Happen If I Don't Pay My Supplemental Property Taxes On-Time?
A: If your payment is not received in person or postmarked by the delinquent dates, the penalty amounts are the same as secured taxes:
1st installment penalty = 10% of the 1st installment amount
2nd installment penalty = 10% of the 2nd installment amount plus $10.00