A gentle tax day reminder

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Real Estate

The second installment of your property taxes is coming due. The last day to pay them without penalty tax is April 10. Your payment must be postmarked no later than 5:00 p.m. on that date. A 10% penalty fee is added to delinquent payments. If April 10 falls on a weekend or holiday, taxes are not delinquent until 5:00 p.m. the next business day. Payments sent by U.S. Mail must be POSTMARKED by the USPS on or before the tax deadline.

Property taxes are often a large consideration when someone is thinking of moving. If you are planning to sell and you are over 55, please call me. I am familiar with Propositions 59 and 60, which provide a means for taking the tax basis of your principal residence with you. You have two years to take your tax base, and you can either sell or buy first. If you sell first, you can pay up to 5% more for the new home for the first year after the sale closes, and 10% more in the second year. However, if you buy first, you must buy for the same price or less than the sales price of the home you sold. This can be an important factor in the decision-making process!

Please call me at (831)420-2629 to discuss your real estate plans. I have 40 years experience helping my clients achieve success in every one of their moves!