The city and county agencies sends copies of all building permits Assessor. The Registrar-recorder county clerk sends copies of all deeds and recorded documents to the Assessor.The Assessor then assesses all real estate and personal property (aircraft, motorboats, manufactured homes, businesses) documents received from around the country. The Assessor then sends these to the Auditor-controller.The Auditor-controller then applies the correct tax-rate to each assessment to determine the real amount property taxes owed. The Auditor-controller sends the property tax bills to the county treasurer and tax collector, who then mails out the property tax bills, receives the taxes, and then deposits them into the County Treasury.The Auditor-controller then allocates this money to local taxing agencies, such as cities, schools, special districts (libraries, parks) and the county.
Annual property tax bills are intended to be received by Nov. 1. The first installment is due Dec. 10, the second by April 10. Bills are delinquent if not received by then. If you do not receive your bill by Nov. 1, call 1-888-807-2111 and request a substitute bill.
If you purchased a home and are unsure of any outstanding property taxes, call 1-888-807-2111. Even if no bill was received you are still responsible to pay.
Supplemental tax bills are generally issued at home re-evaluation. A home is re-evaluated if sold at a higher or lower price. If sold at a higher price, the buyer may have to pay based on the difference between the new value (cost) of the home and the previous value. The number of months remaining in the fiscal year will also affect this amount. If re-evaluated at a lower price, the buyer may receive a refund. The bill is mailed approximately 6 months after purchase. View your estimate at http://assessor.lacounty.gov/extranet/guides/SuppTaxCalc.aspx
Transfers between grandparents/parents to children may be exempt from reassessment. Disabled and senior (55+) persons may qualify to transfer their original property’s value to the new property. If a purchased home is your primary residence, you may qualify for a Homeowners’ Exemption of about $70. You will receive an application 4 months after your deed is recorded by the county clerk.
Business Property Statement (571-L Forms)
Are due by April 1. A 10% penalty is applied if received after then. Required filing if value of business personal property exceeds $100,000 or if requested by Assessor. Businesses which do not value at $100,000 are exempt, and valued by the amount on the the initial business property statement. Property used in conduct of business may be subject to taxation. Personal property is all the property owned or leased by a business, except for inventory and real property. This includes furniture, computers, machinery, etc. Leased equipment must be reported to the Assessor by Jan. 1 by both the lesser and lessee. All Business Property Statements are confidential.
Learn how to read an Unsecured Tax Bill here: http://www.lacountypropertytax.com/portal/bills/unsbill.aspx