New Home Owners
As a new owner, you are responsible for any taxes that were not paid at the time escrow closed. Taxes are generally prorated between the buyer and seller during escrow and proper credit is given to each. Although proration usually occurs, the actual taxes may not have been paid to the Tax Collector at that time.
Review your escrow papers and/or title report to determine if any portion of the annual taxes were paid by the previous owner or title company before the close of escrow. For questions regarding taxes paid during the closing process, please contact your title company directly.
General Information
Annual Secured Property tax bills, can be paid in two installments, are mailed once a year.
The bill contains payment stubs for both installments, this is the only bill mailed each year by the Tax Collector.
Depending on when the ownership change is placed on the tax roll, the annual tax bill could be sent either to the previous owner or directly to you. If you did not receive an annual tax bill from either the previous owner or the Tax Collector, you should contact the Tax Collector immediately and request one.
State law stipulates that failure to receive a bill does not permit the Tax Collector to excuse penalties on late payments.
In addition to annual taxes, you will probably be responsible for paying Supplemental Property Taxes.
Any time a property is sold or improved, the value of the property is reassessed.
If the property has been reassessed at a higher value, you will receive one or more supplemental tax bills in addition to the annual bill mentioned above.
For more information on supplemental tax bills, please read our section on Supplemental Property Taxes.
Escrow companies can only pay property taxes if the Tax Collector issues a property tax bill.
From July 1 to October 1, the Annual Secured Property Tax Bills are not available.
For escrows that settle during this period, escrow companies estimate the property tax amount due and debit/credit these estimated property tax amounts between the buyer and the seller from the proceeds of the sale as costs for the buyer and proceeds to the seller.
Your Closing Statement issued by the escrow company will reflect these debits/credits. If the escrow company paid any property taxes, you will see the payment amount made to the Marin County Tax Collector on your Closing Statement.
As a new property owner, you are responsible for any property taxes that were not paid at the time escrow closed. If you have an impound/escrow account, please consult with your lender/financial institution and determine who will pay the property taxes.