The supplemental Real Property Tax Law was signed by the Governor in July of 1983 and is part of an ambitious drive to aid California’s schools. This property tax revision was expected to produce over $300 million per year in revenue for schools.
If you don’t plan on buying new property or undertaking new construction, this tax will not affect you at all. But if you do wish to do either of the two, you will be required to pay a supplemental property tax which will become a lien against your property as of the date of ownership change or the date of completion of new construction.
The following document provides the information you need to know. (You can download a PDF version of this document by clicking here.