Re/max Excalibur
Re/max Excalibur
Bryan Benham, Re/max ExcaliburPhone: (303) 882-8418
Email: [email protected]

Supplemental tax bill: Understanding the basics

by Bryan Benham 12/05/2022

If your property has increased or decreased in assessed value since your last tax payment, you might receive a supplemental tax bill. These are separate tax bills you need to pay in addition to your regular annual bill. If you're interested in learning more about how supplemental tax bills work, here is a short guide to the basics:

Supplemental tax bills may reflect changes to your property

Supplemental tax bills are usually the result of a supplemental assessment of your property's value. Supplemental assessments happen when you complete new construction or major rehabilitation to a home. Supplemental assessments also take place when a property changes ownership.

Supplemental tax bills can have different due dates

Supplemental tax bills are separate from your normal property tax bills. Therefore, they can arrive at any time of year regardless of your annual tax due date. It's important to take care of these payments as soon as possible to prevent issues.

Supplemental tax bills can be negative

Negative supplemental tax bills are the result of a new assessment being lower than the previous. If you receive a negative tax bill, you'll also receive a reimbursement check. The amount of the refund check will depend on the difference between assessments. Conveniently, most municipalities allow you to apply the refund amount to any other outstanding tax bill, potentially saving you thousands.

Are you planning any major construction or updates to your home? If so, you can likely expect a supplemental assessment for the changes. Keep this basic info in mind for a better understanding of your supplemental tax bill.

About the Author
Author

Bryan Benham

With 29 years with RE/MAX and 18 years selling real estate I have a broad knowledge of the industry. I work as a buyers agent and as a listing agent and believe this gives me the perspective that is beneficial to each. I have worked with numerous relocation companies helping their clients buy and sell. I am a Realtor which means I am a member of the National Association of Realtors and am held by a code of ethics. With that I have a fiduciary duty to my clients and always have their best interests in mind.

I am actively licensed in Colorado and Arizona.