Monday, August 20, 2007

Diamond Bar Property Taxes

PROPERTY TAXES

Secured - Current Year
Tax levied on secured property pursuant to the revenue and taxation code.

Unsecured - Current Year
Tax levied on all personal property not secured by real property held in title by the same owner.Due to the transitory nature of unsecured property, a tax is levied immediately after assessed values are determined.

Prior Year Uncollected
Taxes paid in the current year which were due in a prior year.

Interest and Penalties
Interest and penalties charged for the late payment of property taxes.

OTHER TAXES
Sales and Use Tax
Of the 7% sales tax levied by the State of California, the City receives 1% of the amount collected within the city limits.

Transient Occupancy Tax
These revenues are received on a monthly basis from the hotels in the City.The hotels are required to pay a 10% tax based on the amount of their room rental revenues.


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