A supplemental tax bill is separate from your annual tax bill and may arrive at any time. But what exactly is a supplemental tax bill, and why do property owners pay them? Here is a guide to the key information to know about supplemental property taxes and the associated bills:
Supplemental assessments
A supplemental assessment is a change in a property's value. Supplemental assessments usually occur when there are major upgrades made to a property, like new construction, rehabilitation or expansion. However, supplemental assessments also happen when a property changes owners. In some cases, supplemental assessments can be lower than the previous assessment, resulting in a refund.
Multiple tax bills
Supplemental tax bills are separate from your regular property tax bills. Therefore, they may post at a different time and be due at a different time. It's important to note the deadlines carefully to avoid late fees and other penalties.
Appealing a supplemental assessment
Sometimes, property owners want to appeal a supplemental assessment on their home. Regardless of whether the assessment is higher or lower than expected, the owner can contact their local tax assessor's office to file an appeal. Details vary by municipality, but it's common for an appeal to be due within 60 days of the supplemental assessment for it to be considered.
Supplemental tax bills might seem like an unexpected expense. Therefore, it's important for property owners to familiarize themselves with how they work. Keep these basics in mind and you'll be ready for whatever comes next.
About the Author
Kimberly Hering
Kimberly Hering's devotion to helping people achieve their real estate goals stems from her genuine enjoyment of the process. Whatever the task, Kimberly makes it her mission to get it done, however she can, without compromising her client's needs. Often, that means thinking outside the box. After working with Kimberly, clients describe her as being Trustworthy, Creative, Patient, Highly Skilled, Attentive to the Process and having a lot of Integrity.
After spending more than 15 successful years working on Wall Street, Kimberly transitioned into Real Estate, joining Alain Pinel Realtors, then moving to Zephyr, now Corcoran Global Living, in 2018. During her career on Wall Street, Kimberly was a Vice President working as an Institutional Equity Salesperson for Montgomery Securities for 10 years. She covered the top money managers throughout the US and Canada. She joined Jefferies & Co as a Senior Vice President managing the Western Region Institutional Sales group, while continuing to cover the top money managers.
Kimberly leverages her extensive experience selling equities to top money managers throughout the US and Canada, to successfully negotiating any Real Estate transaction seamlessly for her clients. Kimberly is well versed in Marin's neighborhoods, towns, cities, and education system.
Living in the Bay Area for 35 years, 25 years in Marin and having 2 sons in local Marin schools, Kimberly spends a lot of time volunteering in the community and serving on various local Boards. Kimberly has a collection of resources ranging from the best local breakfast spots to vetted contractors. With her reliable list of valuable resources, Real Estate experience and unsurpassed knowledge of Marin's many communities, Kimberly can guide her clients through every aspect of a Real Estate transaction seamlessly.
Relocating to Marin, downsizing, upsizing, first time home buying, final home purchase or sale, or a lot to build a dream home, no matter the undertaking, Kimberly works seamlessly until the job at hand is completed with 100% satisfaction.