State law requires the Assessor to reappraise property upon a qualified change of ownership or new construction. In order to assess the property as accurately as possible, employees from the County Assessors Office will be visiting and viewing the property that needs to be assessed. The reassessment will generate a supplemental assessment which will reflect the difference between the new assessed value and the old or prior assessed value. If the property is reassessed at a higher value than the old assessed value, a supplemental bill will be issued. If the property is reassessed at a lower value than the old assessed value, a refund will be issued by the Finance department. Changes in ownership or new construction occurring from June 1 to Dec 31 will generate one supplemental tax bill or refund covering a single fiscal year. The taxes are based on the number of months left in the fiscal year after the date of ownership change or the new construction completion date. If the change of ownership or new construction occurs between January 1 and May 31, two supplemental tax bills or refunds will be issued to cover changes for two fiscal years. The first bill or refund would be from the date of the transaction for the remainder of the fiscal year; the second bill or refund would be for the next fiscal year. Supplemental tax bills and refunds are mailed directly to the property owner and the bills are the owner's responsibility. In general, supplemental bills are not paid out of your impound account. Please check with your lender.