Before you bid on a home, check for potentially dicey, and pricey, problems.
In most states, home sellers must disclose any defect they know about that could affect how desirable -- and marketable -- their home is before they sign a purchase contract. Even in the six states that lack a "mandatory seller's property condition disclosure" (Alabama, Arkansas, Kansas, Vermont, West Virginia and Wyoming), the state's licensing agency may require real estate agents to tell buyers what they know. In all states, real estate agents who belong to the National Association of Realtors are obligated by their code of ethics to disclose any defects they know about.
But you may have fallen in love with a house, and spent hours preparing a purchase contract, before the disclosures are made. You should always make your purchase contract contingent on a professional home inspection ($300 to $350). Home inspectors could miss hidden problems, however, such as a basement that floods during a downpour.
More from Kiplinger.com
» Quiz: Should You Buy a Home?
» FAQ's on the Home Buyer Tax Credits
» Foreclosure Bargains Across the CountryThis list of red flags, recommended by Kathleen Kuhn, president of HouseMaster, a nationally franchised home-inspection company, and Bill Richardson, president of the American Society of Home Inspectors, can help you identify potentially pricey problems. You can use your observations to winnow your choices or to factor in condition when you negotiate price with the seller.
Poor water pressure. Aside from issues of comfort and convenience, low water flow may indicate plumbing problems, such as corroded pipes that will need to be replaced down the road. Tearing out old plumbing and replacing it with copper pipes can run $2,000 to $15,000 or more in a typical 1,500-square-foot home. A less costly alternative is cross-linked polyethylene (PEX) piping, which unlike rigid copper piping, is flexible and easier to install (approved for potable use in all U.S. model plumbing and mechanical codes, but may not be approved in local building codes).
Among tests you can do: Run water in a bathroom sink and check for weak flow. Flush the toilet while the water is running. Does the faucet flow drop off during the flush? In the bathroom located farthest from the water heater, turn on the hot water. Is there an unduly long delay before the water turns hot?
Ceiling stains. Something's leaking. If the stain appears beneath a bathroom, odds are the shower is leaking. It may merely need recaulking or regrouting, but it could also require ripping out tile and replacing the shower pan, a much more costly process (about $1,500). Most roof leaks result from neglected flashing that seals "valleys" in the roof or around a chimney or vents (cost to repair: $200 to $500). But roof leaks may also mean it's time to replace shingles -- at $100 to $350 per 100 square feet for asphalt shingles and $210 to $1,000 for wood shingles.
Troublesome doors. Are the doors hard to close? Do they swing open by themselves or fail to open fully? If you have one bad door, it may simply have been installed incorrectly. But more than one may indicate a serious structural issue, such as a foundation that has settled or framing that is deteriorating. Fixing this problem can require structural and geotechnical engineering reports and thousands of dollars in repairs.
Overloaded electrical outlets or lots of extension cords. Today's electrical demands may exceed the capacity of homes built as little as a decade ago, says Kuhn. You'll spend $75 to $250 to have an electrician add a 120-volt outlet to an existing circuit. Or, if the electrical system is very outdated, it may require a new electric panel. A new, 100-amp panel will cost $1,500 to $2,500.
Exterior features that slope toward the home. A porch, patio, driveway or grading that slopes toward the home all but guarantees water in the basement. And that may lead to structural decay, mold and insect infestation. In the basement, a musty smell may indicate previous flooding or ongoing moisture problems. Check the walls for stains, dark or light, which are tell-tale signs that water has penetrated the walls.
Solving the problem may be as simple and cheap as adding gutter extensions or regrading soil away from the home, or it could require thousands of dollars to excavate and build drains. Some homes may require exterior drains (one at the bottom of a sloped driveway, for example) as well as buried drains.
Odors. Cigarette smoke and pet odors can be hard to get rid of. And if a home smells too clean -- heavy with the scent of cleaning products (especially bleach) or plug-in deodorizers -- the seller may be trying to cover up an odor, such as mold or urine. If so, you need to inquire further, says Richardson, of the American Society of Home Inspectors.
Synthetic stucco siding. This must be installed precisely or else moisture will be trapped behind it, resulting in mold and decay. In the worst case, the siding will have to be replaced. For a medium-sized house (1,250 square feet of exterior surface area), replacing vinyl siding can cost $2,500 to $8,750, while wood or fiber cement siding can cost $5,600 to $10,000 or more. Especially in humid climates, you may want to pay for a special inspection. HouseMaster charges $600 and up, depending on how much of the material has been used and the size of the house.
If you find out before you close your purchase that the seller deliberately misrepresented or failed to fully disclose the home's condition, you may have the right to rescind the contract under state law. If it's a done deal, you'll probably have to sue the seller to recoup your damages. In some states you can also seek repayment of your legal costs. Consult with a lawyer who specializes in real estate fraud. If you have reason to believe that the seller's agent was negligent, you can take it up with the local Board of Realtors (www.nar.com, click on "local and state associations") and the state's licensing agency (to find yours, visit the Web site of the Association of Real Estate License Law Officials).
Tuesday, December 8, 2009
7 Red Flags for Home Buyers: A great article to read as your looking to buy before the end of the year!
Saturday, December 5, 2009
sitting center stage waiting for Jerry to tell some jokes.
Confidentiality Notice: The information contained in this electronic e-mail and any accompanying attachment(s) is intended only for the use of the intended recipient and is non-public in nature and may be confidential and/or privileged. If any reader of this communication is not the intended recipient, unauthorized use, disclosure, dissemination or copying is strictly prohibited, and may be unlawful. If you have received this communication in error, please immediately notify the sender by return e-mail, and delete the original message and all copies from your system and promptly destroy any copies made of this electronic message. Thank you.
Friday, December 4, 2009
Here's a tax calendar that can help you understand our tax year. Don't forget, taxes are DELINQUENT on the 10th of December.
<<PropertyTaxes.jpg>>
My Best,
Mike Turner
Vice President
County Sales Manager
California Title Company
760-535-3836
miket@caltitle.com
Keep California Golden! Please don’t print unless absolutely necessary.
Confidentiality Notice: The information contained in this electronic e-mail and any accompanying attachment(s) is intended only for the use of the intended recipient and is non-public in nature and may be confidential and/or privileged. If any reader of this communication is not the intended recipient, unauthorized use, disclosure, dissemination or copying is strictly prohibited, and may be unlawful. If you have received this communication in error, please immediately notify the sender by return e-mail, and delete the original message and all copies from your system and promptly destroy any copies made of this electronic message. Thank you.
Tuesday, December 1, 2009
Don't forget to pay your Property Taxes. Taxes become delinquent on December 10th.
GENERAL INFORMATION
- Collects approximately $4.5 billion dollars in County, city, school, and special district taxes; processes any replicated payments within sixty (60) days, maintains complete and accurate files on the tax payment status of approximately 980,000 parcels, and processes taxpayer inquiries in a timely and courteous manner.
- Maintains records of all tax-defaulted parcels and computes amounts necessary to redeem when requested by the taxpayer; computes amounts and establishes controls for installment plans on redemptions; prepares and mails notices of Power to Sell; determines parcels to sell at public auction and selects dates of the sale; coordinates sale and accounts for proceeds of sale.
- Collects approximately $150 million in unsecured personal property taxes (business property, boats and airplanes). Prepares tax liens on delinquent unsecured taxpayers; and collects delinquent mobile home fees assigned to the County by the State before issuing Tax Clearance Certificates. Collects TOT Tax and Racehorse Tax. Responds to all taxpayer inquiries for property tax payment information.
- IMPORTANT DATES TO REMEMBER: July 1 - Beginning of fiscal yearJanuary 1 - Unsecured bills mailed out; Lien date for unsecured taxes.August 31 - Unsecured deadline. A 10% penalty is added.September - Treasurer-Tax Collector mails out original secured property tax billsNovember 1 - First installment is due (Secured Property Tax) and delinquent Unsecured accounts are changed additional penalties of 1½% until paid.December 10 - First installment payment deadline. A 10% penalty is added after 5:00 p.m. *February 1 - Second installment due (Secured Property Tax)April 10 - Second installment payment deadline. A 10% penalty plus $10.00 cost is added after 5:00 p.m. *May - Treasurer-Tax Collector mails delinquent notices for any unpaid, regular current taxesJune 30 - End of fiscal yearJuly 1 - Delinquent Secured accounts are transferred to delinquent tax roll and additional penalties added at 1- ½% per month on any unpaid tax amounts, plus $15.00 redemption fee
* If a delinquent date falls on a weekend or holiday, the delinquent date is the next business day.
- Make sure you receive bills for all property that you own. Keep track of all parcel numbers, i.e.,147-240-03-01. Check off the bills as you receive them and e-mail or call the Tax Collection Division of the Treasurer-Tax Collector's Office (toll free) at 877.829.4732 if you are missing any bills. Please allow 15 days for mailing. Remember: UNDER CALIFORNIA LAW, IT IS THE RESPONSIBILITY OF THE TAXPAYER TO OBTAIN ALL TAX BILL(S) AND TO MAKE TIMELY PAYMENT.
- On the secured tax roll, the first installment is due November 1 and delinquent on December 10, and the second installment is due on February 1 and delinquent on April 10. Taxpayers have the option of paying both installments when the first installment is due. Penalties will not be waived due to not receiving a bill.
- Make sure that you note December 10 and April 10 as payment deadlines for secured roll taxes as compared to the I.R.S. April 15th deadline for federal taxes and the deadline for filing Homeowner's Exemption. A news release in the newspaper just prior to the tax deadline is the only written notice given of the deadline for payment of county taxes.
- Mail your property tax payments early to make sure that the envelope is postmarked on or before December 10 and April 10. According to California law, the Treasurer-Tax Collector must review the postmark date to determine if payment was mailed before the deadline.
- By paying your taxes on time, you save the following penalties required by California law:
- A 10% penalty added 5:00 p.m. on December 10.*
- A 10% penalty and $10.00 cost added after 5:00 p.m. on April 10.*
- After the end of the fiscal year (June 30), a $15.00 redemption fee and a 1-½% per month (18% per annum) penalty is added on the unpaid tax amount. If a "tax defaulted" notation appears on your tax bill, you may have unpaid taxes for prior years. Substantial savings in penalties can be achieved by paying any prior year back taxes or by initiating a five-year installment plan of redemption.
*If a delinquent date falls on a weekend or holiday, the delinquent date is the next business day.
Keep the County Assessor-Recorder informed of any change in address so that future tax bills will be mailed to the correct address. You may contact the Assessor-Recorder at ( 619 ) 236-3771.
- You can possibly save costly penalties if, prior to the purchase of property and close of escrow, you make sure there are no prior delinquent taxes owing, and pre-arrange who pays the current installment due and owing.
- If property is purchased in November, determine who is to pay the first installment due on or before December 10 for the period of July 1 through December 30.
- Keep in mind that as a new property owner, California law requires that you be responsible for the timely payment of taxes on your property. DO NOT WAIT TO BE NOTIFIED or expect receipt of a tax bill. None may be forthcoming. Make it a matter of your personal attention and responsibility to find out what taxes are due and owing by you, as required by law.
- In a normal escrow, current year taxes are usually pro-rated at the time of closing or escrow between the interested parties, based on the number of calendar days each party held ownership during the fiscal year which extends from July 1 through June 30. Pro-ration is a matter strictly between the parties involved. The Treasurer-Tax Collector cannot adjust the taxes. The installment amount as shown on the tax bill is the amount due by the party determined at the close of escrow. Check your title papers to see if you were credited or debited an amount for the time in the fiscal year you owned the property.
CURRENT YEAR SECURED PROPERTY TAXES EVENTS CALENDAR
Lien Date
January 1st.
Current Secured Property Tax Bills
Mid-September, Auditor applies tax rates assessments, creates the master property tax roll from which the tax bills are printed and mailed in October.Fee Parcel Due Dates
Tax Bills are mailed in October. The first installment is due on November 1st. The second installment is due on February 1st.Current Secured Property Tax Delinquency Dates
The first installment is delinquent after 5 p.m. on December 10th unless the 10th falls on a weekend or holiday. If the 10th falls on a weekend or holiday, the delinquency date is the next regular working day. Payments received after this date will be assessed a 10% penalty. The second installment is delinquent after 5 p.m. on April 10th unless the 10th falls on a weekend. If the 10th falls on a weekend or holiday, the delinquency date is the next regular working day. Payments received after this date will be assessed a 10% penalty and a $10.00 cost.Defaulted Tax Bills
Any delinquent (unpaid) CURRENT SECURED property taxes as of 5:00 p.m. June 30th will be enrolled on the DEFAULTED MASTER TAX FILE. These taxes will accrue additional penalties and a $15.00 redemption fee. These bills are also referred to as prior year secured taxes or redemptions.
Escape tax bills represent assessments of valuation not previously included in the regular annual tax bill. Some escape bills may be eligible to be paid on a FOUR YEAR PAYMENT PLAN. The payments are payable over a four-year period as per California Revenue and Taxation Code. To be eligible for this plan, an escape bill must be for a prior fiscal year and must be equal to, or greater than $500.00 cumulative.
If an escape bill is due to Assessor's error, there is an interest charged at the rate of 3/4 of 1 percent per month.
To enroll a bill on the Four Year Plan, you must:
A. File a written request with the Tax Collector's office prior to April 10th or by the last day of the month following the month in which the bill is mailed, whichever is later.
B. PAY at least 20% of the tax and PAY "back taxes", if any, no later than the deadline for filing the written request. In each succeeding year, a payment of at least 20% of the original amount is required by April 10th.
Any of the following conditions will default an active four year payment plan:
1. Succeeding pay plan installments not received by April 10th each year.
2. Current year taxes not paid in full by April 10th each year.
3. Supplemental bills and other current escape bills not paid timely.
4. Change of ownership on the taxed property.
If further information is needed write to:
Dan McAllister, Treasurer - Tax Collector
County Administration Center
1600 Pacific Highway, Room 162
San Diego, CA 92101-2477
CURRENT YEAR PROPERTY TAX COLLECTION STATUSTo Set Up a Payment Plan:
- Between July 1 and October 31, no current year taxes are due. Between November 1 and no later than the following April 10, the full year current taxes must be paid.
- Pay 20% or more of the total redemption amount due.
- Pay current taxes due each year on or before April 10. The second installment of any supplemental bill must not be delinquent at the end of the fiscal year (June 30).
Interim Payments on Plan:
FAILURE TO MEET THE ABOVE CONDITIONS WILL RESULT IN DEFAULT OF YOUR PLAN.
If you default your installment plan and are unable to initiate a new plan, your property will become subject to sale five or more years after your property initially became tax-defaulted. Authority for the installment plan is prescribed by Revenue and Taxation Code sections 4216-4337.
The unpaid balance of your installment plan, plus accrued interest, may be paid in full at any time before the fifth and final payment due date.
A new installment plan MAY be initiated:
- Only after July 1 following the default of the plan.
- All conditions of the installment plan must be met.
An installment plan MAY NOT be initiated:
- After the fifth year following the declaration of tax default.
- After the property has become subject to Power to Sell.
| Current Year Tax | ||||
| FISCAL YEAR | NUMBER OF PARCELS | TAX AMOUNT | AMOUNT COLLECTED | PERCENT COLLECTED |
2005-2006 | 941,950 | $3,571,242,200.92 | $3,499,928,919.62 | 98.0031 |
2004-2005 | 921,409 | $3,147,381,778.96 | $3,096,586,989.00 | 98.3861 |
| 2003-2004 | 905,644 | $2,831,008,186.04 | $2,796,542,237.97 | 98.7825 |
| 2002-2003 | 890,960 | $2,552,524,107.80 | $2,518,098,853.33 | 98.6513 |
| Prior Year Defaulted Tax | ||||
|---|---|---|---|---|
| FISCAL YEAR | NUMBER OF PARCELS | DEFAULTED TAX AMOUNT | AMOUNT COLLECTED | PERCENT COLLECTED |
| 2005-2006 | 35,898 | $78,996,373.80 | $58,313,522.56 | 73.8170 |
| 2004-2005 | 30,373 | $57,152,557.20 | $41,641,204.22 | 72.4790 |
| 2003-2004 | 30,758 | $58,402,819.04 | $41,236,137.16 | 70.6060 |
| 2002-2003 | 32,949 | $59,170,038.34 | $38,744,926.79 | 65.4800 |
| 2001-2002 | 36,396 | $61,404,676.88 | $39,634,487.20 | 64.5460 |
Every year people pay more money in property taxes because they become delinquent and incur a 10% penalty. Don't be one of these people. Remember the deadline.
Don't forget to pay your Property Taxes. Taxes become delinquent on December 10th.
GENERAL INFORMATION
- Collects approximately $4.5 billion dollars in County, city, school, and special district taxes; processes any replicated payments within sixty (60) days, maintains complete and accurate files on the tax payment status of approximately 980,000 parcels, and processes taxpayer inquiries in a timely and courteous manner.
- Maintains records of all tax-defaulted parcels and computes amounts necessary to redeem when requested by the taxpayer; computes amounts and establishes controls for installment plans on redemptions; prepares and mails notices of Power to Sell; determines parcels to sell at public auction and selects dates of the sale; coordinates sale and accounts for proceeds of sale.
- Collects approximately $150 million in unsecured personal property taxes (business property, boats and airplanes). Prepares tax liens on delinquent unsecured taxpayers; and collects delinquent mobile home fees assigned to the County by the State before issuing Tax Clearance Certificates. Collects TOT Tax and Racehorse Tax. Responds to all taxpayer inquiries for property tax payment information.
- IMPORTANT DATES TO REMEMBER: July 1 - Beginning of fiscal yearJanuary 1 - Unsecured bills mailed out; Lien date for unsecured taxes.August 31 - Unsecured deadline. A 10% penalty is added.September - Treasurer-Tax Collector mails out original secured property tax billsNovember 1 - First installment is due (Secured Property Tax) and delinquent Unsecured accounts are changed additional penalties of 1½% until paid.December 10 - First installment payment deadline. A 10% penalty is added after 5:00 p.m. *February 1 - Second installment due (Secured Property Tax)April 10 - Second installment payment deadline. A 10% penalty plus $10.00 cost is added after 5:00 p.m. *May - Treasurer-Tax Collector mails delinquent notices for any unpaid, regular current taxesJune 30 - End of fiscal yearJuly 1 - Delinquent Secured accounts are transferred to delinquent tax roll and additional penalties added at 1- ½% per month on any unpaid tax amounts, plus $15.00 redemption fee
* If a delinquent date falls on a weekend or holiday, the delinquent date is the next business day.
- Make sure you receive bills for all property that you own. Keep track of all parcel numbers, i.e.,147-240-03-01. Check off the bills as you receive them and e-mail or call the Tax Collection Division of the Treasurer-Tax Collector's Office (toll free) at 877.829.4732 if you are missing any bills. Please allow 15 days for mailing. Remember: UNDER CALIFORNIA LAW, IT IS THE RESPONSIBILITY OF THE TAXPAYER TO OBTAIN ALL TAX BILL(S) AND TO MAKE TIMELY PAYMENT.
- On the secured tax roll, the first installment is due November 1 and delinquent on December 10, and the second installment is due on February 1 and delinquent on April 10. Taxpayers have the option of paying both installments when the first installment is due. Penalties will not be waived due to not receiving a bill.
- Make sure that you note December 10 and April 10 as payment deadlines for secured roll taxes as compared to the I.R.S. April 15th deadline for federal taxes and the deadline for filing Homeowner's Exemption. A news release in the newspaper just prior to the tax deadline is the only written notice given of the deadline for payment of county taxes.
- Mail your property tax payments early to make sure that the envelope is postmarked on or before December 10 and April 10. According to California law, the Treasurer-Tax Collector must review the postmark date to determine if payment was mailed before the deadline.
- By paying your taxes on time, you save the following penalties required by California law:
- A 10% penalty added 5:00 p.m. on December 10.*
- A 10% penalty and $10.00 cost added after 5:00 p.m. on April 10.*
- After the end of the fiscal year (June 30), a $15.00 redemption fee and a 1-½% per month (18% per annum) penalty is added on the unpaid tax amount. If a "tax defaulted" notation appears on your tax bill, you may have unpaid taxes for prior years. Substantial savings in penalties can be achieved by paying any prior year back taxes or by initiating a five-year installment plan of redemption.
*If a delinquent date falls on a weekend or holiday, the delinquent date is the next business day.
Keep the County Assessor-Recorder informed of any change in address so that future tax bills will be mailed to the correct address. You may contact the Assessor-Recorder at ( 619 ) 236-3771.
- You can possibly save costly penalties if, prior to the purchase of property and close of escrow, you make sure there are no prior delinquent taxes owing, and pre-arrange who pays the current installment due and owing.
- If property is purchased in November, determine who is to pay the first installment due on or before December 10 for the period of July 1 through December 30.
- Keep in mind that as a new property owner, California law requires that you be responsible for the timely payment of taxes on your property. DO NOT WAIT TO BE NOTIFIED or expect receipt of a tax bill. None may be forthcoming. Make it a matter of your personal attention and responsibility to find out what taxes are due and owing by you, as required by law.
- In a normal escrow, current year taxes are usually pro-rated at the time of closing or escrow between the interested parties, based on the number of calendar days each party held ownership during the fiscal year which extends from July 1 through June 30. Pro-ration is a matter strictly between the parties involved. The Treasurer-Tax Collector cannot adjust the taxes. The installment amount as shown on the tax bill is the amount due by the party determined at the close of escrow. Check your title papers to see if you were credited or debited an amount for the time in the fiscal year you owned the property.
CURRENT YEAR SECURED PROPERTY TAXES EVENTS CALENDAR
Lien Date
January 1st.
Current Secured Property Tax Bills
Mid-September, Auditor applies tax rates assessments, creates the master property tax roll from which the tax bills are printed and mailed in October.Fee Parcel Due Dates
Tax Bills are mailed in October. The first installment is due on November 1st. The second installment is due on February 1st.Current Secured Property Tax Delinquency Dates
The first installment is delinquent after 5 p.m. on December 10th unless the 10th falls on a weekend or holiday. If the 10th falls on a weekend or holiday, the delinquency date is the next regular working day. Payments received after this date will be assessed a 10% penalty. The second installment is delinquent after 5 p.m. on April 10th unless the 10th falls on a weekend. If the 10th falls on a weekend or holiday, the delinquency date is the next regular working day. Payments received after this date will be assessed a 10% penalty and a $10.00 cost.Defaulted Tax Bills
Any delinquent (unpaid) CURRENT SECURED property taxes as of 5:00 p.m. June 30th will be enrolled on the DEFAULTED MASTER TAX FILE. These taxes will accrue additional penalties and a $15.00 redemption fee. These bills are also referred to as prior year secured taxes or redemptions.
Escape tax bills represent assessments of valuation not previously included in the regular annual tax bill. Some escape bills may be eligible to be paid on a FOUR YEAR PAYMENT PLAN. The payments are payable over a four-year period as per California Revenue and Taxation Code. To be eligible for this plan, an escape bill must be for a prior fiscal year and must be equal to, or greater than $500.00 cumulative.
If an escape bill is due to Assessor's error, there is an interest charged at the rate of 3/4 of 1 percent per month.
To enroll a bill on the Four Year Plan, you must:
A. File a written request with the Tax Collector's office prior to April 10th or by the last day of the month following the month in which the bill is mailed, whichever is later.
B. PAY at least 20% of the tax and PAY "back taxes", if any, no later than the deadline for filing the written request. In each succeeding year, a payment of at least 20% of the original amount is required by April 10th.
Any of the following conditions will default an active four year payment plan:
1. Succeeding pay plan installments not received by April 10th each year.
2. Current year taxes not paid in full by April 10th each year.
3. Supplemental bills and other current escape bills not paid timely.
4. Change of ownership on the taxed property.
If further information is needed write to:
Dan McAllister, Treasurer - Tax Collector
County Administration Center
1600 Pacific Highway, Room 162
San Diego, CA 92101-2477
CURRENT YEAR PROPERTY TAX COLLECTION STATUSTo Set Up a Payment Plan:
- Between July 1 and October 31, no current year taxes are due. Between November 1 and no later than the following April 10, the full year current taxes must be paid.
- Pay 20% or more of the total redemption amount due.
- Pay current taxes due each year on or before April 10. The second installment of any supplemental bill must not be delinquent at the end of the fiscal year (June 30).
Interim Payments on Plan:
FAILURE TO MEET THE ABOVE CONDITIONS WILL RESULT IN DEFAULT OF YOUR PLAN.
If you default your installment plan and are unable to initiate a new plan, your property will become subject to sale five or more years after your property initially became tax-defaulted. Authority for the installment plan is prescribed by Revenue and Taxation Code sections 4216-4337.
The unpaid balance of your installment plan, plus accrued interest, may be paid in full at any time before the fifth and final payment due date.
A new installment plan MAY be initiated:
- Only after July 1 following the default of the plan.
- All conditions of the installment plan must be met.
An installment plan MAY NOT be initiated:
- After the fifth year following the declaration of tax default.
- After the property has become subject to Power to Sell.
| Current Year Tax | ||||
| FISCAL YEAR | NUMBER OF PARCELS | TAX AMOUNT | AMOUNT COLLECTED | PERCENT COLLECTED |
2005-2006 | 941,950 | $3,571,242,200.92 | $3,499,928,919.62 | 98.0031 |
2004-2005 | 921,409 | $3,147,381,778.96 | $3,096,586,989.00 | 98.3861 |
| 2003-2004 | 905,644 | $2,831,008,186.04 | $2,796,542,237.97 | 98.7825 |
| 2002-2003 | 890,960 | $2,552,524,107.80 | $2,518,098,853.33 | 98.6513 |
| Prior Year Defaulted Tax | ||||
|---|---|---|---|---|
| FISCAL YEAR | NUMBER OF PARCELS | DEFAULTED TAX AMOUNT | AMOUNT COLLECTED | PERCENT COLLECTED |
| 2005-2006 | 35,898 | $78,996,373.80 | $58,313,522.56 | 73.8170 |
| 2004-2005 | 30,373 | $57,152,557.20 | $41,641,204.22 | 72.4790 |
| 2003-2004 | 30,758 | $58,402,819.04 | $41,236,137.16 | 70.6060 |
| 2002-2003 | 32,949 | $59,170,038.34 | $38,744,926.79 | 65.4800 |
| 2001-2002 | 36,396 | $61,404,676.88 | $39,634,487.20 | 64.5460 |
Every year people pay more money in property taxes because they become delinquent and incur a 10% penalty. Don't be one of these people. Remember the deadline.