What is an "escaped assessment" in Los Angeles, CA?

Question

I am facing an "escaped assessment." My property has been underassessed and I will probably have to pay the proper amount going back 4 years. My question is will I get credit on that amolunt for the taxes that I did pay?

Answer 1

The escaped amount is usually the difference between the old assessment and the new assessment. If this is the case, you will be taxed on the escaped amount and there will be no allowance for taxes previously paid.

Answer 2

Escaped Assessment Tax Bill
Escaped assessment tax bills represent assessments of valuation not previously included in the regular annual tax bill. Escaped assessments can result from Assessee or Assessor error. An escaped assessment tax bill is for new construction, change in ownership, or property discovered that should have been assessed but was not assessed for a previous tax year.

An addenda tax bill information insert is mailed with all corrected assessment tax bills which explains the tax bill.

(same rules apply regardless of the county)

Answer 3

if u are escaping your income or any investments grom the tax department then u have to pay tax and penalty theron and u can not get credit on that amount for the taxes that u did pay