Under California law, a supplemental property tax bill may be issued in addition to the regular annual tax bill. Which of the following scenarios would correctly trigger the issuance of a supplemental assessment under the Supplemental Assessment Law?
Correct Answer
D) A property owner completes a permitted addition that increases the home's square footage by 400 square feet
Under California Revenue and Taxation Code §75.10 et seq., a supplemental assessment is triggered by a change in ownership or the completion of new construction. A permitted addition constitutes new construction under R&TC §70, requiring the assessor to reassess the newly constructed portion at its current market value. A supplemental bill is then issued covering the difference between the prior assessed value and the new assessed value, prorated from the date the construction was completed.
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Related Topics & Key Terms
Key Terms:
Related Concepts
For a deed to be valid, it must contain several essential elements including a competent grantor, identifiable grantee, consideration, legal description, granting clause, signature of the grantor, and delivery and acceptance.
Escrow is an arrangement in which a neutral third party holds documents, funds, or other items on behalf of the buyer and seller until all conditions of the transaction are met.
A general warranty deed provides the greatest protection to the grantee by guaranteeing that the grantor holds clear title and has the right to sell the property. It includes covenants that protect against all defects in title, even those arising before the grantor owned the property.
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