An assessor must prepare a supplementary assessment for any improvements that are completed or occupied during 2019 that did not appear on the May 2019 assessment & tax notice. The supplementary assessment notice advises the owner of the additional assessment amount that has been placed on the property as a result of the new building(s) completed. The resulting supplementary tax is pro-rated based on the number of months the improvement has been completed or occupied.
The Smiths received their original property & tax notice in May 2019, which showed a total assessment of $200,000 (representing the value of their vacant lot). They then started the construction of their new home in May 2019 and finished at the end of October 2019. They then received a supplementary assessment at the end of October 2019 for $400,000, which represented the value of the new buildings constructed. Tax is levied on this building amount only (as taxes on the lot were levied on the original notice) and is pro-rated from when they moved in until December 31, 2019.
Supplementary tax would be levied on $400,000 and pro-rated from November 1 to December 31, 2019 ($400,000 x 2/12 x residential tax rate). Supplementary assessment notices are mailed out in August and October of each year.
Last edited: November 2, 2019