SUPPLEMENTAL ASSESSMENTS

State law requires the Assessor's Office to reappraise property 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 $250,000, and the previous assessed value of that property was $200,000, you would receive a supplemental assessment on the difference ($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. It may or may not be included in your home mortgage impound account. Check with your lender.

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 with the Assessor's Office on or before the 30th calendar day following the date of mailing of the Notice of Supplemental Assessment.