Understanding Property Taxes for Los Angeles Home Buyers

If you are buying a Los Angeles home you are going to want to understand the property tax system, including supplemental property taxes that may be levied when a home changes ownership (there are inter-family and similar exclusions, but an expert should be consulted on those).Understanding Los Angeles property taxes

Important Los Angeles property tax dates

  • The property tax year runs from July 1st to June 30
  • Annual tax bills are mailed out on October 1st
  • First installment due on November 1st 
  • First installment delinquent on December 10th
  • Second installment due February 1st
  • Second installment delinquent on April 10th
Los Angeles property taxes can be loosely estimated around 1.25%, and the taxes will increase when a property changes ownership at a profit.  An explanation of Supplemental Property taxes is summarized below.
In addition to annual taxes, you may be responsible for paying supplemental property taxes. State law requires the Assessor to reappraise property upon a change in ownership or new construction. The supplemental assessment reflects the difference between the new assessed value and the old or prior assessed value. If the property is reassessed at a higher value than the old assessed value, a supplemental bill will be issued. If the property is reassessed at a lower value than the old assessed value, a refund will be issued. The taxes are prorated based on the number of months left in the fiscal year from the date of ownership change or the new construction completion date. If the change in ownership or new construction occurs between January 1st and May 31st, two supplemental tax bills will be issued. The first supplemental bill will be for the remainder of the fiscal year, and the second supplemental bill will be for the fiscal year that follows. 

They also provide a Supplemental Tax Estimator to help you gauge the amount you will be charged.  This is for a change of ownership situation and not for new property.

For more information read the Frequently Asked Questions page.

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919. You may also request a Market Snapshot of your area of interest.

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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