Abstract of Judgment
A summary of the essential provisions of a court judgment which, when recorded in the County Recorder’s Office, creates a lien upon the defendant’s property in that county, both presently owned or afterward acquired.
Ad Valorem
A Latin phrase meaning “according to value”, usually used in connection with real property taxation.
Appeal
(1) Assessment Appeal – Appeal made by taxpayer for reduction of assessed value. Application is filed with the Clerk of the Board. (2) Penalty Appeal – Appeal made by taxpayer when s/he feels they have been penalized either in error or because of extenuating circ*mstances. A process is then followed for review of such cases by the Tax Collector.
Apportionment
Distribution of ad valorem taxes to the taxing agencies by the County Controller.
Appraisal
An estimate of the value of property resulting from an analysis of facts about the property. An opinion of value.
Assessed Valuation
A valuation placed upon property by a public authority as a basis for levying taxes on the property.
Assessed Value of Land
The assessed value of the land portion of a property.
Assessed Value of Structure
The assessed value of the building portion of a property.
Assessee
Person To Whom The Property Is Assessed.
Assessment
The valuation of property for the purpose of levying a tax; or the amount of the tax levied.
Assessment Number
A unique number assigned by the County Assessor identifying a property.
Bill Number
A unique number identifying a single tax bill.
Certificate of Tax Lien
See Lien.
Chapter 8
Chapter 8 Agreement: Refers to Chapter 8 of Part 6 of Division 1 of Revenue and Taxation Code. Generally, the acquisition by a public agency, the county or the state, through agreement with the County Board of Supervisors, of tax-defaulted property that is subject to the Tax Collector’s power to sell.
Code “42” Bill
Copy of the original Regular Tax bill issued when a change is made by the Assessor in the name or address field.
Collection Fee
See Unsecured Collection Fee.
Cost
$20.00 charge which attaches to secured taxes for preparing delinquent records and giving notice of delinquency. It is either collected when current year delinquent bills are paid when a prior year tax-delinquent or tax-defaulted property is redeemed or is distributed from proceeds of a tax sale.
Declaration of Default
Time of: On or before June 30, at the time fixed in the publication of the notice of impending default, when the unpaid taxes, assessments, penalties and costs on real property (except property which is already tax-defaulted or is a possessory interest), are declared by the Tax Collector to be in default.
Delinquent List
A list annually published on or before September 8, of all real property declared to be in default by the Tax Collector in the second year of default, except those properties which have been redeemed or cancelled subsequent to the declaration of default. Also referred to as the Published Delinquent List.
Delinquent Tax Amount
The total amount of past due taxes on a property.
Demand
Request from Title/Escrow company for pay-off information on any outstanding Tax Collector liens.
E-Check
An electronic check that can be used to pay property taxes. An e-check is issued by entering accounting information from your check into a secured web page.
Eminent Domain
A right to acquire private property for public use by condemnation and the payment of just compensation. This right may be vested in the state or any of its political subdivisions, or in private persons or corporations authorized to exercise functions of public necessity.
Equalization
To make equal, uniform. To constitute or induce equality; in property assessment, a procedure usually performed by the Assessment Appeals Board to provide due process in valuation either collectively or to individual applicants.
Escape
An escape is a bill created by the Assessor for the value increase in a previous fiscal year (i.e., E8 would be additional taxes for fiscal year 1988/89 [July 1, ’88 to June 30, ‘89]). Prior to January 1991 these bills were not prorated.
Escrow
The deposit of instruments and/or funds with instructions with a neutral third party (Title Company or Attorney) to carry out the provisions of an agreement or contract.
Excess Proceeds
The amount of monies remaining from a sale of tax-defaulted property after the taxes, penalties and costs have been paid and all precedent liens and judgments satisfied.
Exemption
Freed from an obligation or duty required by others. According to California Revenue and Taxation Code 201.2 through 234, certain property owners are freed of all or a portion of their tax obligation. For example, all owner occupied homes in the state receive a $7,000 value reduction (Homeowner’s Exception). Cemeteries; churches; nonprofit organizations; and disabled veterans are some of the other exemptions allowed by law.
Exemption Amount
The total amount of tax exemption (tax savings) that is being applied to a property.
Exemption Type
The code used by a government agency to identify the type of exemption that is being applied to a property.
F.A.A.
Federal Aviation Administration.
Fair Market Value
The amount of money that would be paid for a property offered on the open market for a reasonable period of time with both buyer and seller knowing all the uses to which the property could be put and with neither party being under pressure to buy or sell.
Federal Tax Lien
A lien attaching to property for nonpayment of a federal tax (estate, income, etc.). A federal tax lien differs from other liens in that it is not automatically wiped out by foreclosing on a mortgage or trust deed recorded before the tax lien (except by judicial foreclosure). See IRS Lien.
Fiscal Year
An accounting year, as distinguished from a calendar year or an assessment year. For property tax purposes the fiscal year is July 1 through June 30.
Fixtures
Anything pertaining to land or improvements, which usually cannot be removed without agreement, as they become real property; examples: plumbing fixtures, store fixtures built into a building, etc.
General Lien
A lien such as a tax lien or judgment lien which attaches to all property of the debtor rather than the lien of, for example, a trust deed, which attaches only to specific property.
Improvements
Defined in California law as including all buildings, structures, fixtures, and fences erected on or affixed to the land, together with all fruit, nut bearing, or ornamental trees and vines, not of natural growth and not exempt from taxation, except date palms under eight years of age.
Incumbrance. (Encumbrance)
A claim, lien, charge, or liability attached to and binding real property. Any right to, or interest in, land which may exist in one other than the owner, but which will not prevent the transfer of fee title.
