I am a first time property owner. What important information do I need to know.
There are several important items to pay attention to:
1. The amount of taxes your escrow company calculated may be incorrect, but they won't find the error for 12-18 months. This can result in a significant change in your payment. You should call the Assessor ASAP and get a tax estimate for the next year.
2. If you recently bought a home and you didn't get a tax bill on July 1 or December 1, or you didn't get an Assessment Notice in mid-February you need to call the Assessor and verify your mailing address. At the same time, verify that your Principal Residence Exemption is in place.
3. The first Assessment Notice you get in the February after buying your home is the most important. You should get a copy of your property record card from the Assessor and make sure it is accurate. If it isn't, or if you still the the Assessed Value is too high/low you should call the Assessor and make an appointment for the Board of Review.
4. Most importantly, the property tax code is complex and confusing and we all know it. I never have a problem explaining something to a taxpayer. If a question ever comes up,please call or come into the office or email me and I'll help in any way I can.

Show All Answers

1. I am a first time property owner. What important information do I need to know.
2. What is the difference between Assessed and Taxable and Capped Value?
3. How is the inflationary (CPI) increase calculated?
4. I keep hearing the phrase "Arms-Length Transaction". What does that mean?
5. I just bought a new house, will the Assessed Value be half of what I paid for it?
6. What is a Principal Residence Exemption?
7. How do forclosure / short sales affect the value of my home?
8. Do I have to let the Assessor in my home or on my property?