I bought a home in California in January 2007 and want to know if I will owe property taxes this month?

Question

I don't think I will owe property taxes this month since I didn't own the house in 2006, but want to make sure - where can I find this info?

I did purchase the house through a title/escrow company. So I think that limits some of liability.

Answer 1

You did not mention whether you used a title or escrow company to purchased the house or if you purchased it privately from a relative.

If you used a title/escrow company you should refer to your escrow final settlement statement and your title report to see if the taxes you owe were paid through the purchase transaction. You owe taxes from the date you purchased the house as well as a supplemental tax for the increase in value of the home at the time of the sale, so you will still pay taxes even if some of them were paid at close of escrow.

If you purchased the home privately and did not use a title/escrow company...first of all, shame on you, you did not protect yourself and you could end up having ownership troubles later....but to answer your question, YES you do owe property taxes and you need to be sure they are paid prior to April 10th. Just because you did not receive the bill does not excuse you from paying the tax and the penalties are harsh. Also, since it was a private transaction, the prior owner could stick you with the entire bill, and any past due bills for that matter, and claim that it was part of your deal when you purchased it. In order to keep the property from eventually being sold by the county for defaulted property taxes, you will have to pay all the taxes and penalties and interest.

Good Luck and I hope you used a title/escrow company.

Answer 2

wow, if the taxes havent been paid for 2006 then the new owner is liable. You should have made sure they were taken care of before signing the new agreement. What if they are several years behind in paying taxes, which is a probability? You will owe. call the court house and check on it. good luck.

Answer 3

your tax liability begins the day you bought the house.