California Property Taxes
The fiscal year period for the state of California runs from July 1st to June 30th. Property taxes are assessed and collected at the County level. With rare exceptions, there are no separate tax bills issued by either cities or school districts.
Property taxes are collected in two equal installments. The first installment, representing July 1st through December 31st is due on November 1st and delinquent on December 10th. The second installment, representing January 1st through June 30th, is due on March 1st and delinquent on April 10th. Payments must be received (not postmarked) by 5:00 on the delinquent date or will be assessed a 10 percent penalty. The penalties increase substantially if not paid by June 30th of that tax year.
The amount of the taxes is determined by the value of the property. At a minimum, for the first full fiscal year after purchase, most homeowners will pay property taxes equal to 1 percent of the sales price. The property value may be adjusted by the assessor each year to account for inflation, but any annual upwards adjustment cannot exceed 2 percent. In many communities, an additional assessment will be levied due to bonds that have been voter approved. These additional assessments typically fund school districts, transportation needs, water supplies, sanitary districts and regional parks. As a general rule, these assessments will add an additional .25 to .50 percent to the amount of the tax bill.
After the close of escrow, most borrowers will receive a supplemental tax bill in addition to the regular tax bill. The regular tax bill is essentially the sellers' tax bill. Although the buyer will be responsible for the bill, it reflects the value of the property at the time the seller owned it. The supplemental tax bill is based on the difference between the seller's value, as determined by the existing tax rolls, and the new value, established at the time of sale. The amount due is prorated over the remaining months of the fiscal year.
A Homeowner's Exemption will reduce the assessed value of your home by $7,000. To apply for a Homeowners Exemption, contact your County Tax Assessor.
Homeowner’s Property Tax Installment Calendar
How to get an 850 Credit Score
A flawless 850 FICO® score unlocks the lowest interest rates, elite credit card offers, and top-tier negotiating power on loans. At BlueWater Credit, we’ve guided thousands to exceptional scores. Follow this step-by-step roadmap to elevate your credit profile and lean on our experts whenever you need help.
1. Assess Your Starting Line: Pull Your Credit Reports
Start with a clear picture of your credit history. Order your free reports from Experian, Equifax, and TransUnion at AnnualCreditReport.com. For full FICO® score monitoring, you can also check your scores through this MyScoreIQ link.
Review your reports for:
- Accounts you don’t recognize (possible fraud)
- Late payments or delinquencies
- Recent hard inquiries
- Public records like liens or bankruptcies
Keep copies of each report so you can track progress and catch any surprises early.
2. Build an Unbreakable On-Time Payment Streak
Your payment history makes up 35% of your score—the single most important factor. To keep it spotless:
- Automate all bills, from mortgage to utilities
- Set reminders at least two days before due dates
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A consistent record of on-time payments signals that you’re a low-risk borrower.
3. Crush Credit Utilization: Keep Balances Low
Credit utilization makes up 30% of your score. Aim to keep balances under 10% of your credit limits:
- Make multiple payments throughout the month
- Request credit limit increases periodically (but don’t spend more)
- Spread purchases across cards to avoid any single high balance
Low utilization shows lenders you use credit wisely—not excessively.
4. Cultivate a Healthy Credit Mix
Your credit mix accounts for 10% of your score. A balanced profile may include:
- Revolving credit (credit cards, lines of credit)
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- Secured cards or retail accounts
Only open new accounts when they serve a purpose—too many new accounts can hurt more than help. If you’re looking to diversify your mix, explore current credit card offers here.
5. Preserve Account Age: Honor Your Oldest Accounts
Length of credit history makes up 15% of your score. Here’s how to maximize it:
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Long-standing credit relationships show stability and reliability.
6. Minimize Hard Inquiries When Applying
Hard pulls can temporarily lower your score. Reduce their impact by:
- Bundling mortgage or auto loan rate-shopping into a 14-day window (FICO treats them as one)
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Strategic planning keeps your credit momentum strong.
7. Monitor Regularly & Dispute Issues with BlueWater Credit
Even a small error can hold back your score. Stay proactive by:
- Signing up for credit monitoring to catch new accounts, inquiries, or delinquencies
- Contacting BlueWater Credit immediately if you spot anything inaccurate or suspicious
Our experts will handle disputes with the bureaus so you can stay focused on your goals.
8. Use Credit-Builder Tools Wisely
If you’re building or repairing credit, the right tools can speed up progress:
- Secured credit cards (backed by a deposit, but report like regular cards)
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Use these products strategically and manage them responsibly to build trust with lenders.
9. Make 850 a Lifestyle, Not Just a Goal
Achieving a perfect score is impressive—but maintaining it is where the real power lies. Stick with your good habits: make on-time payments, keep utilization low, monitor your reports, and stay informed.
Barrett Financial Group, LLC NMLS #181106
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