As a property owner in California, it's important to understand the deadlines for paying your property taxes. Penalties can be steep for missing the deadline. It's also important to check if you are overpaying on your property taxes and ensure you are taking advantage of all tax breaks available. Below we will highlight key dates for property tax payments in California, and provide you with tools to understand if you are overpaying on your tax bill.
When are my first and second installment California property tax payments due in 2023 and 2024?
In California, the key dates for property taxes are as follows:
- December 10, 2023: First property tax installment due
- April 10, 2024: Second property tax installment due
Note that property taxes are technically due on November 1st, 2023 and February 1st, 2024. However, tax bills are only considered delinquent if they are not paid by December 10th, 2023 and April 10th, 2024 so that is the effective due date when homeowners should consider their taxes due without incurring any penalty.
These dates apply to all types of properties, including residential, commercial, and unimproved land. Note that if the 10th falls on a weekend or holiday, the payment is still due and payable on that date.
What is the penalty for being late?
Failure to pay your property tax payment by the deadline will result in a steep penalty. In California, the penalty for late payment is 10% of the amount due. This fee applies even if you are only late by a day, so make sure to mark your calendars! If your payment remains outstanding beyond June 30th, 2024, an additional 1.5% will be added to your outstanding balance every month per month on your outstanding balance.
The easiest way to pay your property tax bill is online. Most California counties have an online portal. You can also pay by mail, though make sure the envelope is postmarked to before the above installment due dates. Alternatively, you can opt to pay your property taxes in-person at your local tax collector's office.
How can I lower my property taxes?
While property tax payments are obligatory, there are strategies to reduce the amount you owe:
- Applying for exemptions: Most California homeowners are eligible for property tax exemptions that allow you to lower your taxes. California property tax exemptions include the Homeowner's Exemption, Senior Exemption, and Veteran's Exemption. This means if you live in the unit that you own, are over 65, or are a disabled veteran, then you most likely qualify for property tax exemptions in California.
Use Parcel to see if you qualify for any exemptions and automatically file your exemption paperwork with your county assessor's office. - Contesting your property value: Another avenue to explore is contesting your property value with the county. In most counties, this involves meeting with a panel of judges from your county assessor's office and bringing market comps to justify why you believe your property is not correctly assessed. By demonstrating that your property has been overvalued, you can secure a lower property value, subsequently resulting in a reduced tax bill.
Questions? We're here to help. Sign up for a free 15-minute consultation with one of our property tax specialists to help you lower your property taxes in California.
