Taxes are yearly, when does the year start or stop

[Jwhitman]

My questions is: I bought a house in California 8/2009 and the taxes that where paid from the compound account for Nov and Mar. reflected the old home owners very low rate. So we received a supplimentry bill this June. We paid this assuming it was our responsiblity. Once I sent a copy of the bill to the morgage company they adjusted my payment by $200 a month. The county assessors office said this yers first payment and next years payment will be the old homeowners amount. The morgage company tells me this is not the case and refuses to adjust the morgage payment. So, what I really need to understand is when the tax bill in Nov what time period is that reprenting. The prevous year or the current year. I looked and can't seem to find a cycle. Income taxes are Jan1 to Dec 31. How does it work with property tax. I just don't understand.
Any help is appreciated.
J

[Pendragon]

I'm a bit confused, but it sounds like you meant to say you bought the house in 2008, not 2009.

I suppose each are may be different, and your tax assessors office should certainly know what they use.

Here, the bill you get near the end of the year represents the value assessed during the assessing period, that could be last year, could have been 3 years ago. Again, your tax office should be able to tell you what year the assessed value was (probably 2008, when you bought the home it's value was reassessed). More than likely your mortgage company is correct in this case, I can't imagine the home not getting a re-assessed value with the sale.

Typically if you've set it up that way, property taxes are paid by your mortgage company and amortized to your payment. You get a statement, the mortgage company gets the bill.