HOW IS REAL PROPERTY ASSESSED? Real property is assessed upon change of ownership and construction of improvements. HOW ARE PROPERTY TAXES BILLED? Property taxes are billed annually and paid in two equal installments. You can also have your taxes impounded monthly. An impound account is managed by your mortgage company. WHEN ARE PROPERTY TAXES DUE? The fiscal year runs from July 1st through June 30th. The first installment is due November 1st and is late December 10th. HOW IS THE BASE PROPERTY TAX RATE SET? Under Proposition 13, passed by California voters in 1976, the base property tax rate is set at 1% of the full cash (or assessed) value of real property. WHAT ARE MELLO-ROOS? Real property can be subject to continuing tax levies under the Mello-Roos Act. Such levies are used to finance certain designated public services and facilities.
CALIFORNIA PROPERTY TAXES
FEBRARY 1 2ND INSTALLMENT DUE
MARCH 1 ASSESSMENT DATE
APRIL 10 2ND INSTALLMENT LATE AT 5PM
JULY 1 BEGINNING OF FISCAL YEAR
NOVEMBER 1 1ST INSTALLMENT DUE
DECEMBER 10 1ST INSTALLMENT LATE AT 5PM
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