Page 36 - Homeowners Manual - San Luis Obispo County

PROPERTY TAX CALENDAR

Second Installment First Installment
Lien Date Delinquent Tax Bills Mailed Delinquent
January 1 After April 10 Last week of October After December 10

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Second Installment Beginning of First Installment
Due Fiscal Tax Year Due
February 1 July 1 November 1

Second Installment First Installment
January 1 — June 30 July 1 — December 31

1. The California Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home. The home must have been the
principal place of residence of the owner on the lien date, January 1. To claim the exemption, the homeowner must make a one-time filing of a simple
form with the county assessor where the property is located. The claim form, BOE-266, Claim for Homeowners’ Property Tax Exemption, is available
from the county assessor. A person filing for the first time on a property may file anytime after the property or claimant becomes eligible, but no later
than February 15 to receive the full exemption for that year. Source: http://www.boe.ca.gov/proptaxes/exempt.htm#8
2. Contact your County Tax Assessor for information on penalties and fees for late payments. Find your local Tax Assessor at http://www.boe.ca.gov/
proptaxes/countycontacts.htm.
3. Property may be sold at public auction after five years of delinquency.

PAY PAY NO. MONTHS
CLOSING 1ST 1ST IN 2ND IN REQUIRED CHARGE CREDIT
MONTH PAYMENT ESCROW ESCROW TO IMPOUND
BY LENDER

January March 6 No Proration No Proration

February April • 1 Collect 2nd Installment from Credit Seller 5 months
Seller’s Account
March May • 2 Charge Buyer 4 months Credit Seller 4 months

April June • 3 Charge Buyer 3 months Credit Seller 3 months
May July 4 Charge Buyer 2 months Credit Seller 2 months

June August 5 Charge Buyer 1 month Credit Seller 1 month
July September 6 No Proration No Proration

August October 7 Charge Buyer 1 month Credit Seller 1 month

September November 8 Charge Buyer 2 months Credit Seller 2 months
October December • 3 Charge Buyer 3 months Credit Seller 3 months
Collect 1st Installment
November January • 4 Taxes from Seller Credit Seller 2 months
Account Charge Buyer 2 Months

December February • 5 Charge Buyer 1 month Credit Seller 1 month

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