A supplemental tax bill is separate from your annual tax bill and may arrive at any time. But what exactly is a supplemental tax bill, and why do property owners pay them? Here is a guide to the key information to know about supplemental property taxes and the associated bills:
A supplemental assessment is a change in a property's value. Supplemental assessments usually occur when there are major upgrades made to a property, like new construction, rehabilitation or expansion. However, supplemental assessments also happen when a property changes owners. In some cases, supplemental assessments can be lower than the previous assessment, resulting in a refund.
Supplemental tax bills are separate from your regular property tax bills. Therefore, they may post at a different time and be due at a different time. It's important to note the deadlines carefully to avoid late fees and other penalties.
Sometimes, property owners want to appeal a supplemental assessment on their home. Regardless of whether the assessment is higher or lower than expected, the owner can contact their local tax assessor's office to file an appeal. Details vary by municipality, but it's common for an appeal to be due within 60 days of the supplemental assessment for it to be considered.
Supplemental tax bills might seem like an unexpected expense. Therefore, it's important for property owners to familiarize themselves with how they work. Keep these basics in mind and you'll be ready for whatever comes next.
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