I bought a house in the last year and just got my property tax bill, but I also received two supplemental tax bills. Whats going on?
A.The first year of owning a new home can be confusing because of the government cycle for assessing property and sending out tax bills. Property tax bills are sent every September or October and are based on the property’s assessed value on January 1st of that year. The first installment payment is due no later than December 10th, and the second installment payment is due no later than April 10th. Supplemental tax bills are sent out separately from the regular bills and cover the difference between the previous owner’s assessed value and the new purchase price. Because the County operates on a July-June fiscal year, some people will receive more than one supplemental tax bills depending on when the property was purchased or new construction was completed. For example, if you bought your house on August 31th for $500,000 and the house was previously Assessed for $200,000, the regular tax bill will be based on the previous owner’s lower value as of January 1st. The seller should have pa