California Property Taxes
California Property Taxes
For most people, especially if you are financing part of your home purchase, taxes are impounded in Escrow and paid for you by the Escrow impounds. However, if you have purchased your home cash or paid off your home, your property taxes are your repsonsiblity. You cannot rely on recieving a property tax notice to make your payment. It is critical you pay attention to the dates and understand the penalties and fees imposed if you miss these dates.
Here's a breakdown of your property tax schedule.
January 1 - Taxes become a lien on all taxable property at 12:01 AM. Not due and payable for the Fiscal Year starting July 1.
April 10 - Last day to pay second installment without penalty (10% penalty + 10% fee). Penalty and fee valid from April 10 - June 30th.
April 15 - Last day to file 100% Veterans or homeowner's exemption. To be eligible, you must own and occupy property on March 1.
July 1 - If one or both Tax installments are delinquent add 10% penalty, $15 fee, and additional 1.5% per month.
November 1 - First installment payment for July 1 - December 31
December 1 - Last day to file Homeowner's Exemption December 10 - First installment delinquent (10% penalty + $10 fee)
To pay your California Property Taxes online you can do so here.
How are property taxes paid when you sell?
Watch this video for a more in depth breakdown on how property taxes are paid when you sell your home.
If you'd like a reminder of these dates to keep in your files, download this here.
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