Missing the property tax deadline in San Diego County can have significant consequences for homeowners. If you find yourself in this situation, it’s important to understand what happens next and how to address it promptly.
Immediate Penalties
– Once the deadline passes, your property tax bill goes into a default status. This can lead to additional financial burdens.
– An extra $33 redemption fee is applied to your bill. It’s essential to pay this promptly to prevent further charges.
– A penalty of 1.5% is added each month to the unpaid amount. This may not seem like much at first but can accumulate to a total of 18% over a year.
The escalating penalties can strain your finances, making it harder to clear the outstanding amount. Properties that remain unpaid for several years can be sold at a tax sale, which is a scenario every homeowner wants to avoid.
When it comes to missing a property tax deadline, both home buyers and sellers need to understand the implications that can affect them in the future. Here’s how it could impact each party:
• For home buyers – Unpaid property taxes on a potential purchase can become your responsibility, possibly complicating the title process with liens. Conduct thorough due diligence to ensure taxes are current, which can also give you negotiation leverage to request resolution as part of the sale.
• For home sellers – Unsettled property taxes can delay the sale or reduce your net proceeds, as buyers or lenders typically require these debts to be cleared before closing. Resolve any tax issues before listing your property to avoid negotiation challenges and ensure a smooth transaction.
It’s essential to take quick action if you’ve missed the deadline. Here are some steps to follow:
1. Pay online quickly: Use the e-Check option at sdttc.com to pay your outstanding taxes. This method is free of additional charges and is a convenient way to settle your dues.
2. Contact the Treasurer-Tax Collector’s Office: If you need assistance or more information about your bill, reach out to the office for guidance.
3. Plan for the future: To avoid future penalties, consider setting reminders for tax deadlines and explore options like automated payments.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
