How bad can the penalties of paying your San Diego property taxes late be?
The treasurer-tax collector’s office in San Diego County, CA has begun mailing out delinquency notices for those behind on their San Diego property taxes.
In San Diego County, those that are late face a $10 charge, plus 10% late fee. Those that do not reconcile their balances by July 1st, 2013 will see an additional 1.5% added on each month, or 18% per year. However, note that the county is not required to send these notices out under state law. So even if you haven’t gotten one that doesn’t mean you aren’t being hit.
This year, outstanding bills total over $94 million according to UT San Diego. While this may sound like a lot, it actually represents an extremely high 98% collection rate. This is a huge positive for those buying a home in San Diego. In other areas of the country where collection rates are low public services can be severely negatively impacted.
For those that haven’t paid because they believe their San Diego property taxes are incorrect or unfair, you may file a grievance or request for reassessment. However, while laws and timelines vary across the country, failing to pay these taxes can lead to a foreclosure sale and losing your property. Do not underestimate this threat.
If you simply can’t afford to pay right now; find a lower cost, unsecured way to borrow and pay them. Or seriously consider selling your home fast for cash before you lose it and are left with nothing.
