Frequently Asked Questions
If it has been a few years since you bought or sold a home, you may have questions along the way. Here is a set of Frequently Asked Questions:
Why did I receive a Supplemental Tax Bill months after buying my house? I thought the taxes were already paid at close of escrow.
Your taxes are paid at close of escrow based upon the rate of the previous owner. Because the taxes are based on your purchase price, that amount you paid at escrow may be lower than the actual tax amount you owe. Once the tax assessor computes the new tax amount, you are billed for the difference. It is important to plan on receiving a Supplemental Tax Bill so you have the funds available. To assist you in computing what the supplemental tax bill will be,<click here>
If you are paying less for the home than the previous seller, check with the tax assessor if you believe you have overpaid your taxes. (714) 834-2727
I have lived in my current home for 30 years and paid $60,000 for it. Is it true that I can purchase another home and pay the same taxes that I do now?
I cannot advise on tax issues, but there are laws that give a great one time tax benefit to people over 55 who want to move. Your purchase must be your primary residence and it needs to cost the same or less than the value of your current home. This is limited to moves within California and the move must be to a cooperating county. <Get more detailed information> or call (714) 834-2727
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April Hay, South Orange County real estate solutions for:
- Mission Viejo Homes
- Laguna Niguel Homes
- Rancho Santa Margarita Homes
- Lake Forest Homes
- Laguna Hills Homes
- Aliso Viejo Homes
- San Juan Capistrano Homes
- Tustin Homes
- Irvine Homes
- Newport Beach Homes
- Corona Del Mar Homes
- Dana Point Homes
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