What is a Supplemental Assessment?
Once the Assessor has appraised your property the new value becomes effective for tax purposes the first of the month following the month of the activity. Since this is always during a tax year there is already a taxable value associated with the property. The new value is then compared to the existing value. The difference is the supplemental assessment. For example:
Property transferred for $100,000
New Apprised value $100,000
Existing taxable value $75,000
Amount of supplemental assessment $25,000