One of the most common things that every homeowner will have to do regardless of where they live in Southern California is pay property taxes. In this post we will cover when property taxes are due in SoCal and how you can pay them.
When Are Property Taxes Due?
Property taxes in Southern California are typically due by the first of the year and six months later at the end of the year but depending on your county your exact due date could be different so you should consult with your local tax professional to confirm when they are due after you purchase a home.
Should You Pay Property Taxes Yourself?
In California property taxes are usually the biggest tax that we have to pay and they are calculated based on 1 percent of a home’s value. Over the last year many Southern Californians have been shocked to receive their property tax bills because their homes were reassessed and they had to pay a higher property tax bill than they did last year. If you plan on paying property taxes yourself make sure that you set money aside for paying your property taxes just so you won’t be faced with paying a huge property tax bill and have to come up with the money to pay it.
Impounding Your Property Tax Payment
Another option to consider for paying your Southern California property taxes is to have your property taxes impounded each month, this means that your lender will divide up your property taxes over 12 months then pay them for you each year from an escrow account so you won’t have to worry about paying property taxes yourself.
Learn More about Property Taxes
To learn more about Southern California property taxes or to view homes for sale contact Fred Sed Realty today by calling us at (800) 921-9231 or connect with us online through our website.