Property tax? - Northern California Ford Owners

This is topic Property tax? in forum General Talk at Northern California Ford Owners .

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Posted by SantaClara_Cobra (Member # 9488) on :

So I bought a house 6 months ago in San Jose and just received a letter stating my property tax is now 1800 more a year. They are saying my property taxes didn't include my down payment and now it will. We put 20% down and put the taxes in our payment. Wtf! Is this what you guys go through? Can I protest this?

Posted by i (Member # 12534) on :

California be taxin

Posted by Adam5.0 (Member # 6995) on :

My ex went through this a few years ago. After about six months of owning the house she got a letter probably similar to yours stating that they haven't received any taxes so far. She got on the phone with the mortgage company and they dealt with the problem for her. It turns out that there was no issue at all, just that some local governments are really fucking bad at keeping records and shit just getting mixed up.

Posted by Outlaw_Stangz (Member # 3926) on :

Call who ever is servicing your loan to clarify. I would then call the Santa Clara County tax collector. I would go through your closing/lending paper work too. All that should be documented in there.

Posted by sic70stang (Member # 4347) on :

My bank handles my tax payment but I still receive what looks to be a bill. It's just a copy. But it's possible your first payment is short and needs to be adjusted since the bank just estimates your tax assessment. My first one was short and my mortgage payment adjusted after that.

Posted by eldog68 (Member # 12928) on :

Property tax is about 1% of the purchase price. Look into your papers and see what was allocated. It's probably just the county paperwork behind schedule since you include the tax in your mortgage payment .i pay my tax separately.

Posted by sic70stang (Member # 4347) on :

quote:
Originally posted by eldog68:
Property tax is about 1% of the purchase price. Look into your papers and see what was allocated. It's probably just the county paperwork behind schedule since you include the tax in your mortgage payment .i pay my tax separately.

They assessed mine for $40,000 more then purchase price. I filed an appeal to no avail. Tax man commin lol

Posted by SantaClara_Cobra (Member # 9488) on :

Thanks guys, I appreciate all the replies . I'm going to tak with my lender and go from there

Posted by 135.0 (Member # 4992) on :

Probably your supplemental tax. It looks different the the normal bill.

Posted by sic70stang (Member # 4347) on :

quote:
Originally posted by 135.0:
Probably your supplemental tax. It looks different the the normal bill.

That sounds about right.

Posted by stanger00 (Member # 13818) on :

I got the same type of letter about our property tax. Our lender told us to expect something like this and not to worry about it. If we were led wrong we would call our title holder and have them fix our payment.

quote:
Originally posted by 135.0:
Probably your supplemental tax. It looks different the the normal bill.

This sounds right to me.

Posted by 135.0 (Member # 4992) on :

Supplemental is a one time tax adjustment based on the difference between the previous owners tax base vs how much you purchased the home for. If you have an escrow account send them a copy and ask them to incorporate that bill in your payment and they'll probably pay it and add it to your monthly for the next 12 months. But it's already after 12-10 you probably have a penalty now. Prop taxes are typically 1% from the county but the additional bonds and assessments bring it closer to 1.25% if not more in certain areas.

Posted by SantaClara_Cobra (Member # 9488) on :

quote:
Originally posted by 135.0:
Supplemental is a one time tax adjustment based on the difference between the previous owners tax base vs how much you purchased the home for. If you have an escrow account send them a copy and ask them to incorporate that bill in your payment and they'll probably pay it and add it to your monthly for the next 12 months. But it's already after 12-10 you probably have a penalty now. Prop taxes are typically 1% from the county but the additional bonds and assessments bring it closer to 1.25% if not more in certain areas.

Thanks for the reply. The letter stated they need half by end of jan. I'll double check it and make some phone calls. Thanks again .

Posted by twisted54 (Member # 1981) on :

quote:
Originally posted by SantaClara_Cobra:

quote:
Originally posted by 135.0:
Supplemental is a one time tax adjustment based on the difference between the previous owners tax base vs how much you purchased the home for. If you have an escrow account send them a copy and ask them to incorporate that bill in your payment and they'll probably pay it and add it to your monthly for the next 12 months. But it's already after 12-10 you probably have a penalty now. Prop taxes are typically 1% from the county but the additional bonds and assessments bring it closer to 1.25% if not more in certain areas.
Thanks for the reply. The letter stated they need half by end of jan. I'll double check it and make some phone calls. Thanks again .

you're bank should pay for the supplemental tax too if you have a compound loan...Ours did.

Posted by AL STOCK (Member # 1852) on :

quote:
Originally posted by 135.0:
Probably your supplemental tax. It looks different the the normal bill.

Posted by Built88LX (Member # 10758) on :

quote:
Originally posted by AL STOCK:

quote:
Originally posted by 135.0:
Probably your supplemental tax. It looks different the the normal bill.

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