NEW PROPERTY OWNER
FISCAL TAX YEAR, OR TAX ROLL YEAR
Los Angeles County fiscal tax year or tax roll year begins July 1 of one year and ends June 30 of the next year (i.e., July 1, 2016 through June 30, 2017). This is the twelve-month accounting period used for the calculation and collection of taxes.
NEW OWNER INFORMATION
Typically, secured property taxes are prorated between the buyer and the seller during escrow. As a new owner, you are responsible for any taxes that were not paid as of the time escrow closed. The Tax Collector mails Annual Secured Property Tax Bills once a year starting around October 1. This is the only Secured Property Tax bill the Tax Collector regularly mails each year. Depending on when the Los Angeles County Assessor places the ownership change on the tax roll, the Tax Collector could send the Annual Secured Property Tax Bill either to the previous owner or directly to you.
If there are any remaining unpaid taxes, and if you did not receive an Annual Secured Property Tax Bill from either the previous owner or the Tax Collector, you should contact us and request one. It is your responsibility to obtain the Annual Secured Property Tax Bill. If you do not know your Assessor’s Identification Number (or AIN), you can Look Up Your AIN, then review our Secured Taxes Payment Methods. Failure to receive a tax bill neither relieves you of your responsibility to pay taxes on time, nor does it allow the Tax Collector to cancel late-payment penalties.
SUPPLEMENTAL PROPERTY TAXES
In addition to annual property taxes, you will probably be responsible for paying Supplemental Property Taxes. Any time there is a change in ownership or new construction, the Los Angeles County Assessor re-assesses the value. If the property has been reassessed at a higher value, you will receive one or more supplemental tax bills in addition to the Annual Secured Property Tax Bill mentioned above. (For more information on supplemental tax bills, please read the section on Supplemental Property Tax Bills.)
If the property has been reassessed at a lower value, you will receive a refund. The Supplemental Property Tax bill is in addition to the Annual Secured Property Tax Bill; it does not replace the Annual Secured Property Tax Bill. The Tax Collector sends supplemental bills only to the property owner, even if you have an impound account with your lender. Do not ignore the Supplemental Property Tax Bill.