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Old 05-25-2018, 05:48 PM
 
427 posts, read 221,177 times
Reputation: 568

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I bought a home a little over a year ago and I pay my property taxes through my mortgage in an impound account.

Today I received a supplemental tax bill for $4000, and they say it's in addition to my property taxes. They said it is because the property changed hands and it is the difference between the previous property value and the current property value.

But I already pay my current property taxes so I have no idea what this is about, can someone please explain this?
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Old 05-25-2018, 05:51 PM
 
Location: So Ca
17,562 posts, read 16,369,201 times
Reputation: 15362
Quote:
Originally Posted by MuscleCar View Post
But I already pay my current property taxes so I have no idea what this is about, can someone please explain this?
Whenever you purchase a home (or have a major remodel), you end up paying this. Your property is re-appraised at the new value.

Los Angeles County Property Tax Website
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Old 05-25-2018, 05:54 PM
DKM
 
Location: Thousand Oaks, CA
3,854 posts, read 1,370,462 times
Reputation: 3392
Your bank isn't going to pay your supplemental taxes. You have to pay this the first year basically. They will adjust your escrow to account for the new tax rate.
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Old 05-25-2018, 07:25 PM
 
427 posts, read 221,177 times
Reputation: 568
But I already pay the 1.25% on the purchase price. Are they going to add this $4k every year?
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Old 05-25-2018, 08:14 PM
 
Location: Future Expat of California
602 posts, read 371,018 times
Reputation: 542
It's what happens when you purchase a home. I had to do it as well. It takes time for the county to adjust the tax roll. Just make sure you fill out the homestead exemption form. It help with your property taxes as it takes $7k off your assessed property value.
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Old 05-30-2018, 03:31 PM
 
Location: Sherman Oaks
179 posts, read 124,310 times
Reputation: 219
Same happened to me when I purchased a townhouse in Sherman Oaks. I thought they already adjusted the tax but sent me a supplemental tax after that, based on new assessed value. Felt like a gut punch, with someone saying "Welcome to LA!" in the background .
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