Supplement Assessments

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SUPPLEMENTAL ASSESSMENTS:

State law requires the Assessor's Office to reappraise property immediately upon change of ownership or completion of new construction. The Assessor's Office must issue a supplemental assessment or refund that reflects the difference between the prior and new assessed values. The tax liability is pro-rated based on the number of months remaining in the fiscal year, ending June 30. This is in addition to the regular tax bill. A Notice of Supplemental Assessment is mailed out to the property owner before the tax bill is issued.

For example, if you purchased property in September, worth a market value of $150,000, and the previous assessed value of that property was $100,000, you would receive a supplemental assessment on the difference of $50,000 for the remainder of the fiscal year (from October through the following June). The amount of supplemental property taxes due would be 1 percent of the increase in value, pro-rated for the remaining months of the fiscal year. This supplemental tax bill is in addition to the annual tax bill.



All exemptions (Homeowner's, etc.) shall be allowed on the supplemental assessments unless they have already been granted on the regular assessment. A claim for exemption must be filed before February 15 following a change in ownership or new construction. If a Homeowner's Exemption has not been granted to your property, we will include a claim with the Supplemental Value Notice. We ask that you file the claim within 30 days so we can credit your Supplemental Bill with the reduction. If a Homeowner's Exemption has been granted on your property because the prior owner claimed it, a claim will be mailed in the beginning of January. Remember, to get the full $7000 assessment reduction, file by February 15. If you miss the February 15 date, a partial credit can be granted up until the due date for the first installment of property taxes.