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While lower home prices are bad news for homeowners, one bit of good news is that you can often obtain a reduction in the property tax rate that you pay.
Your county government assesses properties on a set schedule, typically every several years. However, a homeowner can ask for a reassessment any time they believe the assessed value of the home is higher than the market value.
Check with the county assessor to find out when your property was last assessed and its assessed value. Often this information is available on line, as opposed to in person at the Assessor’s Office.
Look for any errors regarding your home's age, size, number of bedrooms and bathrooms, and any other important characteristics, e.g. pool, central air, roof type, etc…
Next, determine the sale prices of at least two (2) homes in your neighborhood that are comparable to your house. Try and find properties that most closely match yours in characteristics and are also in close proximity to your property. Often a real estate agent or broker will be willing to prepare a Comparative Market Analysis (CMA) for you, free of charge. You may also obtain comparable sales information from free on-line web sites such as zillow.com and cyberhomes.com. Simply type in your address and hit search. Remember, only sold properties count, not properties currently listed for sale or or pending sales.
If your home is assessed lower than comparable recent sales, then don’t do anything, as you are paying lower taxes!
If you discover that your home is overvalued, then present the information to the Assessor’s Office. In light of the precipitous drop in home values in virtually every area of California, almost every Assessor's Office will have a format for you to follow to challenge the assessment. The process is quite simple.
Below you will find the links to the Assessor's Offices for LA, Orange, Riverside and San Bernardino Counties.
Los Angeles County Assessor's Office
Decline in Value - Prop 8
By entering your street address or Assessor Identification Number at the website below, you can check the status of your application or see if your property automatically qualifies for a decline-in-value review under either one of the following conditions:
1) The property is a single-family home or condominium purchased between July 01, 2005 (2003 in some areas based on economic conditions) and June 30, 2008.
2) The property is subject to annual review of a temporary decline-in-value reassessment granted for the prior assessment year (2008).
http://assessor.lacounty.gov/extranet/guides/prop8.aspx
Eligibility Requirements
1) You must demonstrate that on January 1, the market value of your property was less than its current assessed value.
2) You must file a claim form for a Decline-in-Value Reassessment Application (Prop.8) with the Assessor between January 1 and December 31 for the fiscal year beginning on July 1. If December 31 falls on a Saturday, Sunday, or a legal holiday, an application is valid if either filed or mailed and postmarked by the next business day.
The Process
1) On your claim form, provide the Assessor with information that supports your opinion that the market value for your property is less than the assessed value. The best supporting documentation is information on sales of comparable properties. You should select two comparable sales that sold as close to January 1 as possible, but no later than March 31. You may query the Assessor’s database for sales in your neighborhood by clicking here. While the submission of comparable sales is helpful for the Assessor in determining the market value of your property, applications submitted without comparable sales will be accepted and processed.
2) An appraiser will review your claim form and the information you provide. Other sales information available to the Assessor may also be considered. If the market value as of January 1 is less than the trended base value (squared), your assessed value will be lowered to the market value for the fiscal year beginning on July 1. The adjusted value will be reflected on your annual tax bill. If the current market value is higher than the trended base value, no change in assessed value will be made. If you disagree with the Assessor’s findings, you may file an appeal with the Assessment Appeals Board. You must file your appeal between July 2 and November 30 for your annual tax bill.
Riverside County Assessor's Office
http://riverside.asrclkrec.com/
The filing deadline for a Decline-in Value Application for FY 2009-10 is September 1, 2009
Decline in Value - Prop 8
http://riverside.asrclkrec.com/ACR/INProp8.asp
Form:
http://riverside.asrclkrec.com/acr/forms/755P-AS3RS0%20Owners%20Request%20for%20Review.pdf
Orange County Assessor's Office
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The filing period for Informal Assessment Reviews is January 1 to April 30, 2010.
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The Assessor will consider the market value of property as of January 1, 2010 (lien date).
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Prior tax years cannot be reviewed.
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Choose the form for your property type. Be sure to provide accurate and complete information.
- Print the completed form and mail it to:
Orange County Assessor
Attention: Real Property
P. O. Box 22000
Santa Ana, CA 92702-2000
- If you have any questions, please call (714) 834-2727.
San Bernardino County Assessor's Office
Free Services
| THESE SERVICES ARE PROVIDED FREE BY THE ASSESSOR |
| DECLINE IN VALUE (Proposition 8) |
| The San Bernardino County Assessor’s Office has already reviewed approximately 235,000 single-family residences and condominiums for the 2009 assessment roll under the Decline in Value provisions. Any home or condominium acquired or newly constructed after January 1, 2001 was automatically reviewed in addition to any property whose owner or authorized agent requested a review regardless of property type, date of acquisition, or when the new construction was completed. Notices of value changes were mailed in May, 2009. All property that was reduced under this provision for the 2009 assessment roll will be reviewed for possible further adjustment for 2010. However, if a property was reviewed and no value change was made, and the property owner did not request a review, no notice of value change will be mailed to the property owner. The last date to request a Decline in Value review for the 2009 assessment roll is December 31, 2009. Various private companies are mailing solicitations to property owners offering their services to file a Decline in Value review request form with the Assessor’s Office for fees ranging from $95 to thousands of dollars. These applications may be filed free of charge directly with the Assessor’s Office by the property owner. Property owners may call the San Bernardino County Assessor’s Office toll free at (877) 885-7654 or visit our website for more information regarding an online or mail-in Decline in Value application at: |
| http://www.sbcounty.gov/assessor/Decline.asp |
| Online Prop 8 Decline in Value Application |
| Printable Prop 8 Decline in Value Application |
| ASSESSMENT APPEALS |
| Differences over the valuation of property that cannot be resolved by discussion with the Assessor’s Office are handled by the Assessment Appeals Board. The Assessment Appeals Board is a quasi-judicial body composed of three members appointed by the Board of Supervisors, administered by the Clerk of the Board of Supervisors and is not a part of the Assessor’s Office. Property owners may file an Application For Changed Assessment (assessment appeals application) with the Clerk of the Board of Supervisors. Appeals on regular assessments, which include decline in value appeals, must be filed between July 2nd and November 30th. Appeals on supplemental assessments must be filed within 60 days of the mailing date on the supplemental notice or notice of escape assessment. Various private companies are mailing solicitations to property owners offering their services to file a assessment appeals applications with the Clerk of the Board of Supervisors with fees ranging from $200 to thousands of dollars. These assessment appeals applications may be filed free of charge with the Clerk of the Board. To learn more about assessment appeals, visit the San Bernardino County Assessor’s website at: |
| http://www.sbcounty.gov/assessor/Appeals.asp |
| Online Appeals Form |
| Printable Appeals Form |
| HOMEOWNERS’ EXEMPTIONS |
| If you own a home and occupy it as your principal place of residence as of 12:01 a.m. on January 1st, you may apply for an exemption of up to $7,000 of your assessed value. New property owners will automatically receive an exemption application in the mail. Homeowners’ Exemptions may also be claimed on a supplemental assessment if the property was not receiving a Homeowners’ Exemption on the prior regular assessment roll. Various private companies are mailing solicitations to property owners offering their services to file a Homeowners’ Exemption claim form with the Assessor’s Office for fees ranging from $25 - $50 and up. These applications may be filed free of charge directly with the Assessor’s Office by the property owner. Property owners may call the San Bernardino County Assessor’s Office toll free at (877) 885-7654 or visit our website for more information regarding an online or mail-in Homeowners’ Exemption claim form at: |
| http://www.sbcounty.gov/assessor/Exempt.asp |
| Homeowners' Exemption Form |
| COMPLAINTS |
| If you feel that you are a victim of a misleading mailing, you may contact the California Attorney General’s Public Inquiry Unit at: |
| http://ag.ca.gov/consumers/general.php |
| They may also be contacted by writing to: |
P.O. Box 944255 |
Sacramento, CA 94244 |
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