Supplemental Taxes

In certain states such as California, the tax laws are set up such that the county tax assessor assesses homeowner’s properties after they close on the purchase of their new home. Consequently, this delay in determining the new assessed value can cause complications with an impound account, especially the longer it takes for the assessment to occur. In most cases, the new assessed value will be higher than the previous assessed value in which case a supplemental tax bill will be issued based on the difference in value. In